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IMPERIAL CORP. OF AMERICA v. FRENCHMAN'S CREEK CORP.

No. 30853.

453 F.2d 1338 (1972)

IMPERIAL CORPORATION OF AMERICA, Plaintiff-Appellee-Cross-Appellant, v. FRENCHMAN'S CREEK CORPORATION et al., Defendants-Appellees-Cross-Appellants, Layton A. Humphrey, Wm. E. Robertson, Defendants-Appellants-Cross-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied February 1, 1972.

Attorney(s) appearing for the Case

John L. Roach, Roach & Robertson, Dallas, Tex., for Layton A. Humphrey.

Robert S. Mizell, Howell, Johnson, Mizell, Taylor, Price & Corrigan, Dallas, Tex., for Wm. E. Robertson.

John H. McElhaney, Dallas, Tex., for Imperial Corp. of America; R. W. Calloway and Turner, Rodgers, Winn, Scurlock & Sailers, Dallas, Tex., of counsel.

Charles E. Tobin, Dallas, Tex., for Frenchman's Creek Corp., and others.

Before GOLDBERG, GODBOLD and RONEY, Circuit Judges.

GODBOLD, Circuit Judge:

This diversity suit concerns a claim of usury under Texas law in connection with a large construction loan.

Defendants proposed to build near the campus of a Texas university a dormitory to be owned by them. They secured from an insurance company a commitment for long term permanent financing, and negotiated with plaintiff Imperial for short term financing to provide funds for construction. On August 31, 1966 defendants and Imperial...

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