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S & L HOMES CORP. v. WALLS

No. 8883.

613 S.W.2d 20 (1981)

S & L HOMES CORPORATION, Appellant, v. Randy G. WALLS, and Wife, Kathie Walls, Appellees.

Court of Civil Appeals of Texas, Texarkana.

Rehearing Denied March 17, 1981.

Attorney(s) appearing for the Case

Richard W. Arnott and Frederick J. Feigl, Feigl & Arnott, Inc., Richardson, for appellant.

Frank Elder, III, Kilgore, for appellees.

BLEIL, Justice.

This is a case involving the application of the usury statute to the sale of a residential mobile home. S & L Homes Corporation appeals from a summary judgment in favor of the appellees, which held that the contract entered into by the parties was usurious. The judgment reformed the contract to allow 10% per annum interest based upon the purchase price, awarded statutory penalties and attorney's fees.

On April 2, 1979, Randy Walls and his...

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