107 S.W.2d 736 | Tex. App. | 1937
This is a companion case to that of Temple Trust Company et al. v. Powers, 107 S.W.2d 734, this day decided. The same questions are involved. The loan involved was $2,500, evidenced by 9 notes for $2,800, dated October 27, 1925, Nos. 1 and 2 for $150 each; Nos. 3 to 8, inclusive, for $200 each, maturing, respectively, on November 1, 1926, to 1933; and note No. 9 for $1,300, due November 1, 1935, all bearing 7 per cent. interest, interest payable semiannually. Moore paid the first five of the principal notes and interest up to November 1, 1930, aggregating $866.50. This suit was filed December 14, 1931, to have said contract declared usurious; to cancel all unsurrendered interest notes and all liens on the property involved; to have all interest paid more than two years prior to such suit credited on the principal debt; to recover penalty of double the interest paid within such two-year period and have that amount credited on the balance of such principal remaining. The trial court granted all the relief prayed for, allowed such penalty credited same on unpaid principal, and adjudged a remaining debt due by Moore to Temple Trust Company in the sum of $584.44. In this the court erred. For the reasons stated, and under similar circumstances set forth, in Temple Trust Company v. Haney (Tex. Civ. App.)
Reformed and affirmed.