Jennings v. Texas Farm Mortgage Co.

Mr. Presiding Judge RYAN

delivered the opinion of the Commission of Appeals.

The question here, is whether the Court of Civil Appeals correctly affirmed judgment of the District Court sustaining general demurrer to a petition seeking recovery by way of penalty, in double the amount of interest paid on borrowed money, on the proposition that the transaction was usurious (although interest contracted to be paid, and actually paid, was at the rate of only 7 per cent per annum), if upon certain contingencies there be a possibility of an acceleration of interest so that more than 10 per cent may be…