Sunwest Bank of El Paso v. Gutierrez

OPINION

FULLER, Justice.

After a bench trial, under an agreed stipulation of facts, the trial court entered judgment for the borrower finding that certain charges by the lending institution constituted usury. We reverse and render.

Appellee obtained a loan from the American Bank of Commerce for the purchase of a truck. He executed an installment note which on its face contained a fill-in-the-blank provision for property and/or liability insurance. The Bank failed to fill in any information requiring property and/or liability insurance.

On the failure of the borrower to furnish proof of insurance…