Contingent Obligations As Usury Under Texas Law

Posted on May 29, 2014

Penalties for a Usurious Commercial Transaction In Texas, merely contracting for a usurious interest rate is sufficient for a borrower to assert a claim for usury. Tex. Fin. Code Ann. § 305.001(a-1) (West 2013); Bernie’s Custom Coach of Texas, Inc. v. Small Bus. Admin., 987 F.2d 1195, 1197 (5th Cir. 1993) (citations omitted). Of course, […]

Like Grandma Said, “Oil and Water Don’t Mix”

Posted on May 9, 2014

Water is probably the most vital resource in our world. It is important to all forms of life, and to industry and commerce. In Texas, surface water belongs to the State. Surface water is defined as the water of the ordinary flow, underflow, and tides of every flowing river, natural stream, and lake, and of […]