JOHNS v. JAEB

No. 18403.

518 S.W.2d 857 (1974)

Bobby JOHNS, Appellant, v. Tom JAEB, Appellee.

Court of Civil Appeals of Texas, Dallas.

December 12, 1974.


Attorney(s) appearing for the Case

Michael E. Greenberg, Irving, for appellant.

Frank W. Hill, Hill, Branham & Graham, Arlington, for appellee.


GUITTARD, Justice.

In this suit to recover usury penalties, the principal question is whether defendant advanced funds to plaintiff as a loan or as a contribution to a limited partnership of which plaintiff was the general partner. The transaction was in the form of a limited partnership and an agreement of plaintiff to purchase defendant's interest in the supposed limited partnership. Since plaintiff was unconditionally obligated to repay in monthly installments...

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