MortgageAmerica Corp. v. American National Bank of Austin

PHILLIPS, Chief Justice.

MortgageAmerica Corporation appeals from the trial court’s judgment awarding appellee American National Bank of Austin damages suffered by appellant’s breach of its contract with appellee to provide appel-lee, acting as appellant’s agent, two $500,-000 Government National Mortgage Association (GNMA) certificates, which appellee had contracted to sell to the investment banking firm of Salomon Brothers on appellant’s behalf.

We affirm the judgment.

In January of 1980, Joe Long, the sole owner of appellant MortgageAmerica Corporation, contacted John Tolleson, the president…