Chapter 14-12 Usurious Contract

• Jurisdiction: United States

14-12 Usurious Contract

The defendant must assert, in a verified pleading, that the contract sued upon is usurious in that the effective interest rate called for in the contract is a certain interest rate that exceeds the maximum rate allowed by law.⁴⁰

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Notes:

^[40] Tex. R. Civ. P. 93(11); Midgett v. J. Edelstein Furniture Co., 700 S.W.2d 332, 333 (Tex. App.— Corpus Christi 1985, no writ).