Smith v. Federal Deposit Insurance Corp.

OPINION

SEARS, Justice.

This is an appeal from a summary judg-' ment granted in favor of the Federal Deposit Insurance Corporation [FDIC]. In two related points of error, appellant claims that the trial court erred in granting the FDIC’s motion for summary judgment and in not granting appellant’s cross-motion for summary judgment because the FDIC failed to plead and prove an essential element of its cause of action. We affirm.

Appellant executed a promissory note to the Bank of Brazoria in the amount of $45,358.07 which was secured by 25,000 shares of Liberty Bank stock. When appellant…