MEDFORD v. WHOLESALE ELEC. SUPPLY CO., INC.

No. 85-48.

691 S.W.2d 857 (1985)

286 Ark. 327

Sonny MEDFORD d/b/a Medford Electric, Inc., Appellant, v. WHOLESALE ELECTRIC SUPPLY COMPANY, INC., Appellee.

Supreme Court of Arkansas.

June 24, 1985.


Attorney(s) appearing for the Case

Daggett, Van Dover, Donovan & Cahoon by Robert J. Donovan, Marianna, for appellant.

W. Frank Morledge, Forrest City, for appellee.


DUDLEY, Justice.

Appellee, Wholesale Electric Supply Co., Inc., filed suit on an open account against appellant, Sonny Medford, d/b/a Medford Electric, Inc. Appellant countered that the interest charges were usurious. The trial court held that the charges were valid because of provisions in the Monetary Control Act of 1980. 12 U.S.C. § 86a. We affirm. This Court has jurisdiction to decide cases involving usury. Rule 29(1)(e).

The open account is for a...

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