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ALLIED CHEMICAL CORP. v. MACKAY

No. 82-4075.

695 F.2d 854 (1983)

ALLIED CHEMICAL CORPORATION, Plaintiff-Appellant, v. Jack MACKAY, d/b/a Mackay Farms Ltd., Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

January 17, 1983.

Attorney(s) appearing for the Case

Dudley H. Carter, Columbus, Miss., for plaintiff-appellant.

Frank B. Webb, Columbus, Miss., for defendant-appellee.

Before CLARK, Chief Judge, RUBIN and WILLIAMS, Circuit Judges.

PER CURIAM:

In this diversity case we must interpret Mississippi's usury statute, Miss.Code Ann. § 75-17-1.* This is no small task. Section 75-17-1 has been amended on numerous occasions in recent years to adapt to innovative, complex commercial transactions and inflationary interest rates. From one short paragraph it has evolved into a statute with fourteen subsections, occupying a total of eight pages in the Mississippi Code. As...

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