Realtex Corp. v. Tyler

EVANS, Chief Justice.

This is an action for damages based upon a claim of usury. The trial court, sitting without a jury, found the parties’ contract to be usurious and awarded damages to the plaintiff in the amount of $50,000, being double the amount of interest charged under the contract, and an additional sum of $5,000 as attorney’s fees. The trial court then entered judgment in favor of the defendants on their counterclaim for the amount $63,461.65, representing principle, interest and attorney’s fees computed on the indebtedness, after crediting $65,000.00 received upon a foreclosure sale…