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COCHRAN v. AMERICAN SAV. & LOAN ASS'N

No. 5842.

568 S.W.2d 672 (1978)

Marshall G. COCHRAN, Appellant, v. AMERICAN SAVINGS AND LOAN ASSOCIATION OF HOUSTON, Appellee.

Court of Civil Appeals of Texas, Waco.

Rehearing Denied July 31, 1978.

Attorney(s) appearing for the Case

Stanley B. Binion and William E. Junell, Jr., Reynolds, Allen & Cook, Houston, William E. Steen, Anderson, for appellant.

Jonathan S. Day, Butler, Binion, Rice, Cook & Knapp, Houston, for appellee.

OPINION

McDONALD, Chief Justice.

This is a usury case. Plaintiff (appellant) Cochran sued defendant (appellee) American Savings and Loan Association seeking to recover statutory penalties provided in Article 5069-1.06 VATS, alleging American contracted for, charged and received interest in excess of the maximum allowed by law (10%) on a $330,000 real estate loan. Defendant (appellee) American denied allegations of usury and counterclaimed for deficiency...

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