Don M. Smart, Petitioner v. Tower Land and Investment Company, Respondent

Summary

The Texas Supreme Court reversed the lower courts, holding that Tower Land and Investment Company could not obtain a personal judgment against Don M. Smart for reimbursement of property taxes paid after foreclosure, nor could it rely on equitable subrogation to enforce such a judgment. The Court also held that Smart's promissory note was usurious on its face and remanded the case for determination of appropriate damages.