SOUTHWEST ARKANSAS COM. v. ARRINGTON

No. 88-36.

753 S.W.2d 267 (1988)

296 Ark. 141

SOUTHWEST ARKANSAS COMMUNICATIONS, INC., Appellant, v. James Eric ARRINGTON, Appellee.

Supreme Court of Arkansas.

July 5, 1988.


Attorney(s) appearing for the Case

John F. Stroud, Jr., Texarkana, for appellant.

John Robert Graves, Hope, for appellee.


DUDLEY, Justice.

The appellant asks us to overrule our case interpreting the usury amendment to the Constitution of Arkansas. We decline the invitation.

The appellant sold the appellee a television satellite dish on January 27, 1987, and a television and videocassette recorder on February 17, 1987. The purchases were to be paid for through the use of a revolving charge agreement with an interest rate of 12.5% per annum. At the time the federal reserve discount...

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