Equity Capital Company v. Motel Development, Inc., and William J. Rochelle, Jr., Trustee

Fifth Circuit

Equity Capital Company v. Motel Development, Inc., and William J. Rochelle, Jr., Trustee

318 F.2d 322, 1963 U.S. App. LEXIS 5008

CourtCourt of Appeals for the Fifth Circuit

DecidedJune 12, 1963

Docket20319_1

StatusPublished

This text of 318 F.2d 322 (Equity Capital Company v. Motel Development, Inc., and William J. Rochelle, Jr., Trustee) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Equity Capital Company v. Motel Development, Inc., and William J. Rochelle, Jr., Trustee, 318 F.2d 322, 1963 U.S. App. LEXIS 5008 (5th Cir. 1963).

Pincite

Opinion

PER CURIAM.

The appellant, Equity Capital Company, appeals from an order of the District Judge affirming the Referee in Bankruptcy holding that a loan made by Equity to Motel Development, Inc. was infected with usury and applying the Texas Usury Statute.

The appellant claims that the charges in question were a commission or brokerage fee and not interest, and thus claims the statute does not apply to the transaction in question.

It is our opinion that the question of whether the transaction was infected with usury was a question of fact to be determined by the Refex-ee and reviewed by the District Judge; that there was substantial evidence to support the conclusion reached; and that the conclusion reached was not cleaxdy erroneous.

The judgment is

Affirmed.

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