Federal Deposit Insurance Corp. v. K-D Leasing Co.

OPINION

FULLER, Justice.

The Federal Deposit Insurance Corporation (FDIC) sued on a series of promissory notes. After a bench trial, the FDIC obtained a judgment against K-D Leasing Co. and Glyn L. Day, Jr., jointly and severally, but received a take nothing judgment as to William Duff. FDIC appeals from the take nothing judgment as to William Duff. We affirm the judgment of the trial court.

The National Bank of Odessa (NBO) was the original holder of the notes which FDIC acquired as a result of the insolvency and ultimate closing of NBO. The notes in question were prepared by NBO on a…