[Download] "James W. Catalina and Sheryl D. Catalina D/B/a Catalina Leasings v. William J. Blasdel D/B/a Casey's Cars" by Supreme Court of Texas ~ eBook PDF Kindle ePub Free
eBook details
- Title: James W. Catalina and Sheryl D. Catalina D/B/a Catalina Leasings v. William J. Blasdel D/B/a Casey's Cars
- Author : Supreme Court of Texas
- Release Date : January 02, 1994
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 71 KB
Description
JUSTICE GAMMAGE delivered the opinion of the Court, in which all JUSTICES join. This is a usury lawsuit. The issue in this case is whether there was some evidence in the record to support the trial court's
finding that the agreement involved here was not usurious. William J. Blasdel and James W. Catalina entered into a floor plan
agreement whereby Catalina Leasings financed the purchase of used cars for Blasdel's used car lot. Blasdel withdrew from the
agreement after four months and subsequently sued Catalina for charging a usurious rate of interest.1 After a bench trial,
the trial court rendered judgment that the plaintiff take nothing. Based on its holding that usury does not require an absolute
obligation to repay principal, the court of appeals reversed the trial court's judgment. 858 S.W.2d 653. We reverse the judgment
of the court of appeals.