McCafferty v. Oxford Am. Literary Project, Inc. (Majority, with Concurring and Dissenting)Annotate this Case
Appellant filed an illegal-exaction lawsuit against The Oxford American Literary Project, Inc. In his complaint, Appellant asserted that the University of Central Arkansas loaned $700,000 to Oxford American out of its cash funds and that the loan was an improper use of cash funds. The circuit court granted summary judgment in favor of Oxford American, concluding that the funds were not funds derived from taxes and were therefore not subject to an illegal exaction suit. The Supreme Court affirmed, holding that summary judgment was proper because the undisputed facts showed that the cash funds at issue were not generated from and did not arise from taxation.