Legal Opinion
First City, Texas-Houston N.A. v. Gnat Robot Corp.
Texas Court of Appeals, 1st District (Houston)
Decided July 17, 1991No. 01-91-00508-CVPublishedCited by 1 opinion
1Opinion of the Court
OPINION
SAM BASS, Justice.
This is an appeal from a June 5, 1991, order enjoining the appellant, First City, Texas-Houston N.A. (First City), from drawing on an irrevocable letter of credit issued by NCNB Texas National Bank (NCNB) for the benefit of First City. Tex. Civ.Prac. & Rem.Code Ann. § 51.014(4) (Vernon Supp.1991).
On August 13, 1990, Modern World Media, Inc. (Modern World) and First City entered into a loan agreement for $5,500,-000 (the Loan Agreement). This loan refinanced an earlier loan of $2,500,000 (used to purchase two Beaumont radio stations) and provided funds for new station…
2Cases cited13 opinions
- Johnson v. Fourth Court of AppealsTexas Supreme Court · 1985
- Davis v. HueyTexas Supreme Court · 1978
- Republic National Bank of Dallas v. Northwest National Bank of Fort WorthTexas Supreme Court · 1979
- Westwind Exploration, Inc. v. Homestate Savings Ass'nTexas Supreme Court · 1985
- Fina Supply, Inc. v. Abilene National BankTexas Supreme Court · 1987
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