McILROY BANK & TRUST v. SEVEN DAY BUILDERS

No. CA 80-466.

613 S.W.2d 837 (1981)

McILROY BANK & TRUST, Appellant, v. SEVEN DAY BUILDERS OF ARKANSAS, INC., Appellee.

Court of Appeals of Arkansas.

Rehearing Denied May 6, 1981.


Attorney(s) appearing for the Case

Webster L. Hubbell and Jerry C. Little Rock, Jones, for appellant.

C. Richard Crockett and Frank S. Hamlin, Little Rock, for appellee.


CRACRAFT, Judge.

Appellant, McIlroy Bank and Trust, brings this appeal from a judgment of the Circuit Court of Pulaski County in which it was found that a five year lease agreement entered into with the appellee, Seven Day Builders of Arkansas, Inc., on September 16, 1975, was in fact a conditional sale of equipment on which usurious interest had been charged and paid. On those findings the trial court entered judgment under 12 U.S.C. § 1831d(a), (b) for $48...

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