Hemphill v. Watson
Texas Supreme Court
Appeal from Parker. Tried below before the Hon. A. J. Hood, On April 1, 1880, Hemphill brought this suit against Watson to vacate and set aside a sale of land, and to set aside and vacate the trust deed under which the sale was made.
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Appeal from Parker. Tried below before the Hon. A. J. Hood, On April 1, 1880, Hemphill brought this suit against Watson to vacate and set aside a sale of land, and to set aside and vacate the trust deed under which the sale was made. The case made by the petition was in effect that on the 22d day of July, 1876, appellant secured a loan from appellee of $300, and agreed to pay interest, thereon at the rate of two and one-half per cent, per month; that the interest was calculated at that rate and added to the $300, making $420; that appellant gave his note for that amount, and also executed a…
1Opinion of the Court
Willie, Chief Justice.
The first question in this case is: Was the note which Hemphill made to Watson and secured by mortgage upon the land in controversy tainted with usury ? It was executed July 22, 1876, subsequent to the adoption of our present constitution, but previous to the passage of the act of August 21, 1876, which regulated interest and prescribed a penalty for the prevention and punishment of usury.
*681Art. XVI, sec. 11, of the constitution, denounced all interest above twelve per cent, as usurious, and charged the legislature with the duty, at its first session, of providing…
2Cases cited4 opinions
- Law v. People ex rel. HuckIllinois Supreme Court · 1877
- Jackson ex dem. Sternberg v. DominickNew York Supreme Court · 1817
- Watson v. AikenTexas Supreme Court · 1881
- McLaughlin v. CosgroveMassachusetts Supreme Judicial Court · 1868
3Cited by53 opinions
- City of Beaumont v. BouillionTexas Supreme Court · 1995
- State Mortgage Corp. v. LudwigTexas Supreme Court · 1932
- Watts v. MannCourt of Appeals of Texas · 1945
- W. C. Belcher Land Mortgage Co. v. TaylorTexas Commission of Appeals · 1919
- Goldfrank, Frank & Co. v. YoungTexas Supreme Court · 1885
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