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TANNER DEVELOPMENT CO. v. FERGUSON

No. B-6366.

561 S.W.2d 777 (1977)

TANNER DEVELOPMENT COMPANY et al., Petitioners, v. Robert B. FERGUSON et al., Respondents.

Supreme Court of Texas.

Rehearing Denied December 7, 1977.

Attorney(s) appearing for the Case

Vinson, Elkins, Searls, Connally & Smith, Paul E. Stallings and David T. Harvin, Houston, for petitioners.

Sears & Burns, David F. Beale, Houston, for respondents.

DANIEL, Justice.

This is a suit seeking to recover the statutory penalties on a contract alleged to be usurious. Respondents, Robert B. Ferguson and Twelve Ferguson Ltd., a partnership, hereinafter referred to as Ferguson, brought suit against Tanner Development Company, a joint venture, asserting that a promissory note given by Ferguson to Tanner as partial consideration for the conveyance of ten acres of land in Harris...

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