Potomac Leasing Co. v. Housing Authority of El Paso

OPINION

OSBORN, Chief Justice.

This appeal is from a summary judgment awarding the Appellee statutory penalties based upon a claim of usurious interest arising out of collection efforts following a default on a lease agreement. We conclude that there was no credit involved in this transaction and usury statutes are not applicable. We reverse and remand.

The Appellee, Housing Authority of the City of El Paso, entered into a written agreement with B & C Office Machines to rent a copy machine for thirty-six months at $850.00 per month. The copier was apparently supplied by Potomac Leasing Company…