Braniff Inv. Co. v. Norton

HUTCHESON, Circuit Judge.

This appeal tests whether there was usury in the loan papers plaintiffs sued to cancel. The District Judge thought there was. He thought that, made in Texas, the contract must be construed and enforced according to Texas law, and that under them its usury was plain. Appellants, insisting that the contract is not usurious under Texas law, really plant themselves upon the proposition that, payable in Okla-. homa, whether it is usurious or not must be determined by Oklahoma law.

We agree with the District Judge that the contract is usurious under Texas law. Because there…