Abilene National Bank v. Fina Supply, Inc.

Opinion

RALEIGH BROWN, Justice.

This suit concerns a letter of credit. Abilene National Bank, now known as MBank Abilene, N.A., filed suit seeking a declaratory judgment that it was not liable to fund Letter of Credit No. 1342 in favor of Fina Supply, Inc. because the presentment documents submitted with Fina’s draw request did not comply with the terms and conditions of the letter of credit. Subsequently, after Abilene National Bank failed to honor its draft, Fina filed suit against Abilene National Bank for breach of contract; and alternatively, to reform the terms of the letter of credit and…