Abilene National Bank v. Fina Supply, Inc.

ON MOTION FOR REHEARING

Fina urges that this Court erred in reversing and rendering judgment that it take nothing. Fina contents that the doctrine of election of remedies is not applicable and, therefore, a judgment based on reformation of the letter of credit should have been entered. See TEX.R.CIV.P. 434.

We disagree with Fina’s contention regarding the inapplicability of the doctrine of election of remedies. However, should we be in error, Fina is not entitled to a judgment based upon reformation of the letter of credit. Reformation of an instrument can be based upon either mutual mistake or…