Bearden v. Tarrant Savings Ass'n

OPINION

HOLMAN, Justice.

This is an appeal from a suit for usury by appellants against appellee Tarrant Savings Association which resulted in the granting of a summary judgment in favor of appel-lee by the trial court.

We affirm.

After first receiving a commitment from Tarrant Savings for a loan of $100,000.00 within seven months from November 17, 1978, for the payment of $1,000.00, appellants exercised their option on May 17,1979 and secured from appellee a 20 year loan for $100,000.00, payable monthly at the rate of ten percent (10%) per annum. Paragraph three of the promissory note granted to…