W. A. Mays v. J. S. Pierce

Summary

The Texas Supreme Court held that the $1,000 portion of the $11,000 note was not usurious because the payment to Wayland College was not a condition precedent, allowing Mays to recover the full amount with interest and fees. The Court also affirmed that the mechanic's lien of E. C. Cheshier is the first and superior lien on the proceeds, with Mays' deed of trust lien subordinate to it but superior to other claimants.