(Download) "Strickler v. State Auto Finance Co." by Supreme Court of Arkansas # eBook PDF Kindle ePub Free

eBook details

Title: Strickler v. State Auto Finance Co.
Author : Supreme Court of Arkansas
Release Date : January 19, 1952
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 67 KB

Description

This is a suit by appellant, Mrs. Love Strickler, to cancel, on the ground of usury, a note and chattel mortgage which she executed in connection with a loan from appellee, State Auto Finance Company. The complaint charged that, in making the loan, appellee required the purchase of unnecessary and excessive insurance and that service fees charged or deducted from the loan were either altogether fictitious or exorbitant for any services actually rendered and that such charges were made for the sole purpose of concealing the real intent to charge a usurious and illegal rate of interest on the loan in contravention of 13 of Art. 19 of the Arkansas Constitution. In its answer appellee admitted making the loan, denied that it was usurious and specifically alleged that the charges made were authorized by Act 203 of 1951 and were not in excess of the maximum rates prescribed in said Act. A cross-complaint was also filed asking for judgment for the full amount of the note, less one payment made by appellant, and for foreclosure of the chattel mortgage given to secure the note.