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TEXAS TOOL TRADERS v. W. E. GRACE MANUFACTURING CO.

No. 17939.

488 S.W.2d 498 (1972)

TEXAS TOOL TRADERS et al., Appellants, v. W. E. GRACE MANUFACTURING COMPANY, Appellee.

Court of Civil Appeals of Texas, Dallas.

Rehearing Denied November 30, 1972.

Attorney(s) appearing for the Case

Eric Eades, Jr., Eades & Eades, Dallas, for appellants.

Henry D. Akin, Akin, Gump, Strauss, Hauer & Feld, Dallas, for appellee.

BATEMAN, Justice.

This is a usury case. The appellee W. E. Grace Manufacturing Company originally sued Texas Tool Traders and its president, William B. Mims, Jr., to recover certain indebtedness. Texas Tool Traders and Mims filed a counterclaim for the statutory penalties alleged to be due because of usurious interest contracted for, charged and received by appellee. While the suit was pending Texas Tool Traders was adjudicated...

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