Community Savings & Loan Ass'n of Fredericksburg v. Citizens National Bank of Waco

HALL, Justice.

The Citizens National Bank of Waco (hereinafter referred to as “Bank”) brought this action in McLennan County against Jerrald R. Senter and Ernest Elam (“Senter and Elam”) and Community Savings And Loan Association of Fredericks-burg (“Community”). Bank seeks recovery of $500,000 and $40,000 on two promissory notes allegedly made by Senter and Elam and payable to Bank in McLennan County; and sues Community on a letter commitment which Bank contends was executed by Community to fund payment of the $500,000 note when due, and which allegedly was intended by Community to induce,…