Pacific Finance Corp. v. Tinsley

This case involves the question of usury. On September 26, 1951, which was prior to the decision in Hare v. General Contract
Purchase Corporation, 220 Ark. 601, 249 S.W.2d 973, appellee Griffin L. Tinsley bought from "Wally's Used Cars" an' automobile
for which he executed his promissory note in addition to trading in another automobile. The promissory note was transferred
to appellant Pacific Finance Corporation. On August 28, 1952, Tinsley filed this suit alleging a usurious rate of interest had been charged, and asked that the note
given as part of the purchase price for the automobile be declared null and void. The chancellor held the transaction to be
usurious and that the note given as part of the purchase price was therefore void.