Legal Opinion
Gutierrez v. MBank the Woodlands, N.A.
Texas Court of Appeals, 9th District (Beaumont)
Decided December 1, 1988No. 09-88-079-CVPublishedCited by 1 opinion
1Opinion of the Court
OPINION
BURGESS, Justice.
This is a summary judgment case involving a guaranty agreement. We reverse.
In December 1983, Luden A. Gutierrez, M.D. and Earl Prather as trustees, executed a real estate lien note to the Woodlands National Bank in the sum of $91,500. Both Gutierrez and Prather then executed a personal guaranty. The purpose of the note and the guaranty was to provide the City of Shenendoah, Texas with an irrevocable letter of credit. This was all part of a larger transaction wherein the City would expand utilities to a tract of land owned by Gutierrez and Prather.
In May 1987, MBank the…
2Cases cited4 opinions
- Nguyen Ngoc Giao v. Smith & Lamm, P.C., Texas Court of Appeals, 1st District (Houston)1986
- Newsom v. StarkeyCourt of Appeals of Texas · 1976
- Horner v. HamnerCourt of Appeals for the Fourth Circuit · 1918
- Okon v. MBank, N.A., Texas Court of Appeals, 5th District (Dallas)1986