Gulf Coast Investment Corporation v. Prichard

BATEMAN, Justice.

This is a usury case in which the appellant Gulf Coast Investment Corporation complains of a judgment rendered upon a jury verdict, allowing recovery of the statutory penalty for usury.

The appellees, Donald M. Prichard and wife desiring to borrow $3,000, made their promissory note to appellant for $5,145, dated August 31, 1965, payable in monthly installments of $85.75 over a period of five years; appellant issued to appellees its check for $3,500, out of which $500 was paid to one James Earl Jones as a brokerage fee, and the balance of $3,000 retained by appellees. The note…