Gregg v. North Texas Building & Loan Ass'n

DUNKLIN, Chief Justice.

A. L. Gregg and wife instituted this suit to cancel a certain promissory note and deed of trust executed by them to secure its payment on certain real estate in the city of Wichita Falls.

The record shows that those instruments were executed in renewal and extension of a former note and deed of trust between the same parties. And the ground for cancellation urged by plaintiffs was that the original note, which was payable in monthly installments with interest in advance, was usurious, and that the same taint inured in the new note.

In addition to a general denial, the…