NORTHWESTERN NAT. LIFE INS. CO. v. BAIN

No. 7637.

80 F.2d 886 (1935)

NORTHWESTERN NAT. LIFE INS. CO. v. BAIN et ux.

Circuit Court of Appeals, Fifth Circuit.

December 12, 1935.


Attorney(s) appearing for the Case

Wm. Lipscomb, of Dallas, Tex., for appellant.

A. T. Cole, of Pampa, Tex., and J. R. Porter, of Clarendon, Tex., for appellees.

Before FOSTER, SIBLEY, and HUTCHESON, Circuit Judges.


HUTCHESON, Circuit Judge.

The suit was for relief from provisions for interest in a loan contract. The ground was accelerative usury. The claim was that by casting the loan in the form adopted, of principal sum notes, with interest coupons secured by a first deed of trust and so-called commission notes, secured by a second deed of trust, the lender had put himself in a position where, by accelerating maturities, he could exact usury, to wit, more than 10 per cent...

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