FIRST NAT. MORTG. CO. v. ARKMO LUMBER & SUPPLY CO.

No. 82-132.

641 S.W.2d 31 (1982)

277 Ark. 298

FIRST NATIONAL MORTGAGE COMPANY, Appellant, v. ARKMO LUMBER & SUPPLY COMPANY, Appellee.

Supreme Court of Arkansas.

November 8, 1982.


Attorney(s) appearing for the Case

Charles Darwin Davidson, P.A., Little Rock, for appellant.

Homer Tanner, North Little Rock, for appellee.


GEORGE ROSE SMITH, Justice.

When the appellee Arkmo filed this suit in 1980 to foreclose its second mortgage upon land in Pulaski county, the appellant First National filed a cross-complaint to foreclose its construction-money first mortgage upon the same land. The mortgagors, apparently insolvent, let both claims go by default. Arkmo pleaded in response to the cross-complaint that First National's mortgage was void for usury. This appeal is from a decree sustaining...

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