McDaniel v. Wallace

DIES, Chief Justice.

On October 3, 1979, John D. Wallace and wife, as plaintiffs, sued Bob Costilow, Inc., Realtors, and Inez Merle McDaniel, defendants, alleging that in July of that year, plaintiffs entered into a contract with defendants to purchase a house in Jefferson County, Texas. They (plaintiffs) alleged, “At that time Defendants represented to Plaintiffs that the interest rate of the loan on said property was 5½%. Later, however, Defendants notified Plaintiffs that the actual interest rate on the loan on said property was 7%, which would add an additional $2,000.00 over the life of…