Tygrett v. University Gardens Homeowners' Ass'n

SPARLING, Justice.

Appellee, University Gardens Homeowners’ Association, sued H.V. Tygrett, appellant, to collect a late payment penalty charge resulting from overdue assessments on Tygrett’s condominium. Tygrett counterclaimed for statutory penalties under TEX.REV.CIV.STAT. art. 5069-1.06 (Vernon 1971 & Vernon Supp.1984), contending that the late charge amounted to usurious interest. The Association prevailed in a trial to the court on stipulated facts, and Tygrett’s counterclaim was denied. Ty-grett contends on appeal that the trial court erred in its conclusion of law that the late charge…