Karg v. Strickland

OPINION

FEDERICO G. HINOJOSA, Jr., Justice.

This is a usury case. By three points of error, appellants contend that the trial court erred in granting appellees’ motion for summary judgment. We reverse and remand.

On June 3, 1989, Earl B. Strickland III, executor and trustee of the Bemadeen K. Strickland Estate, Robin Strickland, and Bennie C. Strickland (“Stricklands”) executed a $100,000 promissory note. The note was payable to Jack F. Karg and Ronald D. Karg (“Kargs”) as trustees of the Karg Management Trust. According to the terms of the note, interest accrued at the rate of ten percent (10%)…