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WINN v. CHATEAU CANTRELL APARTMENT CO.

No. 89-314.

801 S.W.2d 261 (1990)

304 Ark. 146

James A. WINN and Juanita B. Winn, Appellants, v. CHATEAU CANTRELL APARTMENT COMPANY, et al., Appellees.

Supreme Court of Arkansas.

December 17, 1990.

Attorney(s) appearing for the Case

Victor A. Fleming, Little Rock, for appellants.

James Penick, Michael Johns, Walter Davidson, Atty. Gen., Little Rock, John B. Thurman, No. Little Rock, John C. Speer, Memphis, for appellees.

NEWBERN, Justice.

This is a usury case. James A. Winn and Juanita B. Winn, the appellants, sold an apartment complex to appellee Chateau Cantrell Apartment Company (Chateau Cantrell), a general partnership, for $2,300,000, taking in return a promissory note for $1,600,000 which was secured by a mortgage.

Chateau Cantrell sold the property to Chateau Residential Partnership (Chateau Residential), through its nominee E. Ralph

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