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W. E. GRACE MANUFACTURING COMPANY v. LEVIN

No. B-3741.

506 S.W.2d 580 (1974)

W. E. GRACE MANUFACTURING COMPANY, Petitioner, v. Sol LEVIN, Trustee, Respondent.

Supreme Court of Texas.

Rehearing Denied March 6, 1974.

Attorney(s) appearing for the Case

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

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

WALKER, Justice.

This is a usury case. The suit was brought by the creditor, W. E. Grace Manufacturing Company, our petitioner, against the debtor, Texas Tool Traders, and its president, William B. Mims, Jr., to recover the balance alleged to be owing on certain indebtedness plus actual and exemplary damages for fraud. Texas Tool and Mims filed a counterclaim for statutory penalties claimed to be due because of usurious interest contracted for, charged and received...

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