Woolard v. Texas Motors, Inc.

OPINION

SPURLOCK, Justice.

This is a suit seeking to recover the statutory penalties on a contract alleged to be usurious.

William Woolard purchased a truck from Texas Motors, Inc. To finance the purchase the parties executed a retail installment contract. The contract was later assigned to Ford Motor Credit Company. It is Woo-lard’s contention that this contract, on its face, violates three sections of Chapter 7 of the Texas Consumer Credit Code (Tex.Rev. Civ.Stat.Ann. art. 5069-7.01 et seq. 1971), is unconscionable, and violative of public policy.

At trial all parties moved for summary…