Glenn v. Ingram

Mr. Judge German,

of the Commission of Appeals, delivered the opinion for the Court.

This is another usury case. The controlling question is whether or not the form which the loan transaction took was a simulated one, or did it constitute a bona fide purchase of a mechanic’s and materialman’s note and lien at a discount.

It is undisputed that Robert M. Ingram, one of the plaintiffs in the trial court, made application to U. R. Groom, local representative of Temple Trust Company, for a loan of $3200, to be used in the construction of a house in the town of Brown-wood; and Groom agreed to make…