Watson v. Aiken
Texas Supreme Court
Appeal from Red River. Tried below before the Hon. Reuben R. Gaines. Suit brought by appellant S. E. Watson against W. B. Aiken, on the 27th day of October, 1880, to cancel a trustee’s deed from A. M. Taylor, trustee, to Aiken for a tract of one thousand four hundred and thirty-eight acres of land in Red River county, surveyed for Abner McKenzie, to remove clouds from plaintiff Watson’s title, for general relief, etc.
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Appeal from Red River. Tried below before the Hon. Reuben R. Gaines. Suit brought by appellant S. E. Watson against W. B. Aiken, on the 27th day of October, 1880, to cancel a trustee’s deed from A. M. Taylor, trustee, to Aiken for a tract of one thousand four hundred and thirty-eight acres of land in Red River county, surveyed for Abner McKenzie, to remove clouds from plaintiff Watson’s title, for general relief, etc. The grounds alleged in the petition are as follows: 1st. That on the 27th day of May, 1876, Watson borrowed from Aiken $3,000; that Aiken charged, and Watson agreed to pay,…
1Opinion of the Court
Gould, Chief Justice.
On May 27,1876, Watson borrowed of Aiken $3,000, agreeing to pay interest at the rate of eighteen per cent, per annum. The constitution which took effect in April of that year provided that in the absence of contract, the rate of .interest should not exceed eight per cent, per annum, and authorized parties by contract to “agree upon any rate not to exceed twelve per cent, per annum.” It then proceeds thus: “All interest charged above this last named rate shall be deemed usurious, and the legislature shall at its first session provide appropriate pains and penalties to…
2Cases cited2 opinions
- President of the Bank of the United States v. OwensSupreme Court of the United States · 1829
- Fiedler v. . DarrinNew York Court of Appeals · 1872
3Cited by13 opinions
- Hemphill v. WatsonTexas Supreme Court · 1884
- McGrew v. Missouri Pacific Railway Co.Supreme Court of Missouri · 1910
- Baum v. DanielsCourt of Appeals of Texas · 1909
- Allee v. BenserTexas Supreme Court · 1988
- Hatridge v. Home Life & Accident Ins. Co.Court of Appeals of Texas · 1951
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