JETT RACING & SALES v. TRANSAMERICA COMM. FINANCE

Civ. A. No. L-92-120.

892 F.Supp. 161 (1995)

JETT RACING & SALES, INC., et al., Plaintiffs, v. TRANSAMERICA COMMERCIAL FINANCE CORPORATION, et al., Defendants.

United States District Court, S.D. Texas, Laredo Division.

Order Denying Reconsideration May 17, 1995.


Attorney(s) appearing for the Case

Charles R. Borchers, Person Whitworth Ramos Borchers & Morales, Laredo, TX, for Jett Racing & Sales.

Jan R. Thurman, Thurman Harrison & Steck, Arlington, TX, Charles R. Borchers, Person Whitworth Ramos Borchers & Morales, Laredo, TX, for Wolf Hofman, Susana Hofman.

Paul Gallegos, Laredo, TX, Beverly D. Mason, Keck Mahin & Cate, Houston, TX, for Commercial Finance Corp.


MEMORANDUM AND ORDER

KAZEN, District Judge.

Pending is Defendant Transamerica's opposed motion for partial summary judgment, addressing that portion of Plaintiffs' complaint charging usury arising out of a "floor plan" financing agreement existing between the parties. The agreement, dated September 2, 1988, is labeled an "Inventory Security Agreement and Power of Attorney" ("the Agreement"). It provides, among other things, that Plaintiff Jett may...

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