(Download) "James D. Crow v. Home Savings Association Dallas County" by The Supreme Court of Texas # eBook PDF Kindle ePub Free
eBook details
- Title: James D. Crow v. Home Savings Association Dallas County
- Author : The Supreme Court of Texas
- Release Date : January 30, 1975
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 71 KB
Description
This is a usury case. Petitioners here, who instituted the suit, are James D. Crow and two of his entities, K.C. Corporation and Buckner Plaza Apartments, Ltd. Respondent is Home Savings Association of Dallas County. The claim arises out of a loan consummation transaction of October 27, 1971, and the payment to Home of the sum of $24,985 under the circumstances and in the manner later detailed. Upon trial, the jury found that one of the transactions on October 27, 1971, in which the First National Bank in Dallas loaned Crow the sum of $150,000, was a device for accomplishing a loan from Home to Crow; and that the payment to Home of the sum of $24,985 was compensation for the use or detention of this sum of $150,000 and not for services rendered Crow by Home. / The trial court entered judgment for Crow in the sum of $199,970 in usury damages and $30,000 in attorneys fees. See Article 5069-1.06(2), Vernons Annotated Texas Statutes. The Court of Civil Appeals reversed and rendered judgment that Crow take nothing. 514 S.W.2d 160. It was the view of the Court of Civil Appeals that under the evidence the transaction in question was a bona fide loan by the First National Bank in Dallas, the repayment of which was guaranteed by Home, and hence not subject to the penalties of usury under the established rule of Greever v. Persky, 140 Tex. 64, 165 S.W.2d 709 (1942). We agree and affirm.