Texas Tool Traders v. W. E. Grace Manufacturing Co.

BATEMAN, Justice.

This is a usury case. The appellee W. E. Grace Manufacturing Company originally sued Texas Tool Traders and its president, William B. Mims, Jr., to recover certain indebtedness. Texas Tool Traders and Mims filed a counterclaim for the statutory penalties alleged to be due because of usurious interest contracted for, charged and received by appellee. While the suit was pending Texas Tool Traders was adjudicated a bankrupt, and Sol Levin, Trustee in Bankruptcy, was substituted for it and prosecuted the counterclaim. Upon a special issue verdict the trial court rendered judgment…