STRAWN FURNITURE CO., INC. v. AUSTIN

No. 83-150.

655 S.W.2d 397 (1983)

280 Ark. 69

STRAWN FURNITURE COMPANY, INC., Appellant, v. L.K. AUSTIN, Appellee.

Supreme Court of Arkansas.

July 5, 1983.


Attorney(s) appearing for the Case

Rose Law Firm by Gary J. Garrett and R. Davis Thomas, Jr., Little Rock, for appellant.

Gibson Law Office by Charles S. Gibson, Dermott, for appellee.


DUDLEY, Justice.

The sole issue presented is whether appellant employed a usurious method of charging interest. The case is governed by Article 19, Section 13 of the Constitution of Arkansas since the charges occurred prior to the effective date of Amendment 60. The trial court found the rate of interest to be usurious. We affirm. Jurisdiction is in this Court by virtue of Rule 29(1)(a).

The appellant compounded interest (charged interest on the unpaid interest...

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