WARE v. TRAVELER'S INDEM. CO.

No. 16453.

604 S.W.2d 400 (1980)

John M. WARE, Appellant, v. TRAVELER'S INDEMNITY COMPANY, Appellee.

Court of Civil Appeals of Texas, San Antonio.

July 25, 1980.


Attorney(s) appearing for the Case

J. Ken Nunley, Dodson, Nunley & Taylor, Uvalde, for appellant.

William Jeffers, Jr., San Antonio, for appellee.


MURRAY, Justice.

The appellants instituted this action alleging that the appellee charged them interest on a note at a usurious rate, and that they were therefore entitled to penalties in accordance with Article 5069-1.06(1), Texas Revised Civil Statutes Annotated.

In January of 1976 the appellants executed a long-term real estate lien note in the amount of $72,000 payable to the appellee. The note provided that interest at the rate of ten per cent (10%) per...

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