COMMUNITY SAVINGS AND LOAN ASSOCIATION v. FISHER

No. 11369.

400 S.W.2d 927 (1966)

COMMUNITY SAVINGS AND LOAN ASSOCIATION, Appellant, v. R. L. FISHER et ux., Appellees.

Court of Civil Appeals of Texas, Austin.

Rehearing Denied April 6, 1966.


Attorney(s) appearing for the Case

Raymond L. Kneese, Fredericksburg, Bryce A. Taylor, Burnet, for appellant.

Harold G. Kennedy, Austin, for appellees.


HUGHES, Justice.

This is a declaratory judgment case in which the principal question is whether a borrower who procures a 5% discount loan the note providing that "In the event of prepayment of the entire balance before maturity, the holder agrees to credit to said note all unearned interest * * *" is charged with knowledge, as a matter of law, that "the sum of digit method" is the method by which the rate at which interest was earned is computed.

Appellees...

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