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ALAMO LUMBER CO. v. GOLD

No. C-883.

661 S.W.2d 926 (1983)

ALAMO LUMBER COMPANY, Petitioner, v. Addie B. GOLD, Respondent.

Supreme Court of Texas.

Rehearing Denied January 11, 1984.

Attorney(s) appearing for the Case

Foster, Lewis, Langley, Gardner & Banack, Ralph Langley and Emerson Banack, Jr., San Antonio, Graves, Dougherty, Hearon & Moody, Robert J. Hearon, Jr. and Thomas I. Davies, Austin, for petitioner.

West & West, Dennis K. Drake, San Antonio, for respondent.

POPE, Chief Justice.

The question presented is whether Alamo Lumber Company charged usury to Mrs. Addie Gold when Alamo purchased Gold's delinquent note for $75,000 plus interest and extended it, upon condition that Gold sign another note to Alamo for the payment of Stetson G. Reed's open account with Alamo. Gold sued Alamo for usury and Alamo counterclaimed for judgment against Gold on a note for $82,925.34 (Note 1). Note...

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