Miller v. First State Bank

OPINION

SPURLOCK, Justice.

First State Bank’s motion for rehearing is granted; we withdraw our original opinion and substitute this one in its place.

This is a usury case. O. W. Miller and Macile Miller, a husband and wife, acting through their broker, made a contract with the Bank. The contract provided the Millers sign a note for $70,000.00 due three years from date, with interest at the rate of 10% per annum. Pursuant to the contract, the Bank deposited $70,000.00 in the borrowers’ non-interest bearing joint checking account- but also in accordance with the agreement, the borrowers had the…