Equity Capital Company v. Motel Development, Inc., and William J. Rochelle, Jr., Trustee , 318 F.2d 322 ( 1963 )
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318 F.2d 322
EQUITY CAPITAL COMPANY, Appellant,
v.
MOTEL DEVELOPMENT, INC., and William J. Rochelle, Jr.,
Trustee, Appellees.No. 20319.
United States Court of Appeals Fifth Circuit.
June 12, 1963.
J. Manuel Hoppenstein, H. C. Chancellor, Chancellor & Wood, Dallas, Tex., for appellant.
Wm. J. Rochelle, Dallas, Tex., for appellees.
Before HUTCHESON, GEWIN and BELL, Circuit Judges.
PER CURIAM.
1The 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.
2The 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.
3It is our opinion that the question of whether the transaction was infected with usury was a question of fact to be determined by the Referee and reviewed by the District Judge; that there was substantial evidence to support the conclusion reached; and that the conclusion reached was not clearly erroneous.
The judgment is
4Affirmed.
Document Info
Docket Number: 20319_1
Citation Numbers: 318 F.2d 322, 1963 U.S. App. LEXIS 5008
Judges: Bell, Gewin, Hutcheson, Per Curiam
Filed Date: 6/12/1963
Precedential Status: Precedential
Modified Date: 11/4/2024