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SOUTHWESTERN INVEST CO. v. HOCKLEY CTY. S. & D., INC.

No. B-4810.

516 S.W.2d 136 (1974)

SOUTHWESTERN INVESTMENT COMPANY, Petitioner, v. HOCKLEY COUNTY SEED AND DELINTING, INC., et al., Respondents.

Supreme Court of Texas.

Rehearing Denied December 18, 1974.

Attorney(s) appearing for the Case

Clayton & Stubblefield, Cleo G. Clayton and Wesley G. Clayton, Amarillo, for petitioner.

Walters & Associates, Reid A. Rector, Lubbock, for respondents.

PER CURIAM.

The court of civil appeals has held that the lender is subject to statutory penalties for usury under Article 5073, Vernon's Ann.Tex.Civ.Stat., in a situation where the loan contract was usurious on its face and interest in excess of the legal limits was actually paid thereunder. 511 S.W.2d 724. The lender, upon being faced with an action for usury, reduced the final payment to a sum that resulted in bringing the amount...

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