Moody v. Main Bank of Houston

OPINION

DUGGAN, Justice.

Appellant, Shearn Moody, Jr., appeals from a take nothing judgment based upon a jury verdict in his suit against appellee, Main Bank of Houston, to recover statutory penalties for usury arising out of a contractual clearing house and loan arrangement between the appellee bank and a Galveston bank owned by Moody.

It is undisputed that Main Bank required Moody to guarantee payment of a $116,000 judgment Main Bank had obtained against a third party as a condition of Main’s continuing its clearinghouse and lending relationship with Moody’s bank. Moody relies on two theories…