Schmidt v. Citizens Industrial Bank of Austin

BLAIR, Justice.

Appellee, Citizens Industrial Bank, sued appellant Richard Schmidt as maker, and appellants Walter Schmidt and Joseph P. Byrne, Jr., as comakers on their promissory note for $275, payable to appellee, and for $40 attorney’s fees and interest. Richard Schmidt answered that the note provided for interest in excess of 10 per cent, per annum, and was therefore void as being a contract for usurious interest and could not furnish any proper basis for a suit upon the note. That appellee was incorporated under the provisions of articles 542 to 548, R.S. 1925; and that the whole…