Notice of Intention to Repossess, Petition in Suit on Debt, and Sequestration Affidavit Constitute “Chargings” Under Texas Usury Statutes
Boyle, Michael C.
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Summarizes the case Moore v. Sabine National Bank. The court in this case held that documents sent to Moore, an affidavit of sequestration, notice of intention to repossess, and the petition in suit of debt constituted a charging. The amount of this charging (an unearned time-price deferential) doubled the permissible time-price deferential allowed by Texas usury law.