Grayson v. National Enterprises, Inc.

QUINCE, Judge.

Larry Grayson, individually and as personal, representative of the estate of J.T. Gray-son, challenges the trial court’s entry of final summary judgment in favor of National Enterprises, Inc (NEI). We reverse because the trial court erred in applying the D’Oench doctrine to the facts of this ease.

Joel Perr and Cypress Associates, as maker and guarantor, executed a note (the Perr note) in the principal sum of $650,000.00 made payable to Market Center Development Co. (MCD). MCD borrowed $500,-000.00 from Red River Federal Saving and Loan Association, and to secure payment gave Red…