Gramercy Insurance Co. v. MRD Investments, Inc.

OPINION

FROST, Justice.

Appellant, Gramercy Insurance Company, a surety on a motor vehicle dealer’s surety bond, challenges the trial court’s rulings on cross-motions for summary judgment in a suit to collect under the bond. The trial court granted summary judgment in favor of appellee, MRD Investments, Inc., the bond claimant. We reverse and render judgment in favor of Gramercy.

I. Factual Background

The pertinent facts in this case are undisputed. Rebecca Reid operated a used car business known as “Fine Motor Cars of Houston.” MRD contracted with Reid to provide floor plan financing for Reid’s…