SPANISH VILLAGE, LTD. v. AMERICAN MTG. CO.

No. 1209.

586 S.W.2d 195 (1979)

SPANISH VILLAGE, LTD., Appellant, v. AMERICAN MORTGAGE COMPANY, Appellee.

Court of Civil Appeals of Texas, Tyler.

Rehearing Denied September 13, 1979.


Attorney(s) appearing for the Case

Jay M. Goltz, Dallas, for appellant.

Paul E. Stallings, Scott J. Atlas, Vinson & Elkins, Houston, for appellee.


SUMMERS, Chief Justice.

This is a suit seeking to recover statutory penalties and interest paid upon a loan transaction alleged to be usurious. Appellant, Spanish Village, Ltd., a limited partnership, brought suit against appellee, American Mortgage Company, a corporation, alleging that a transaction to provide a mortgage loan, insured pursuant to Section 236 of the National Housing Act, 12 U.S.C. section 1715z-1 (1970), for the construction and permanent financing...

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