Legal Opinion
B.F. Saul Real Estate Investment Trust v. McGovern
Texas Court of Appeals, 8th District (El Paso)
Decided December 5, 1984No. 08-83-00096-CVPublishedCited by 19 opinions
1Opinion of the Court
OPINION
WARD, Justice.
The Plaintiff, Hugh McGovern, by paying a fee of $240,000.00, obtained from the Defendant B.F. Saul Real Estate Investment Trust a standby loan commitment for $12,000,000.00 on the proposed construction of a hotel. When the project was abandoned, the Plaintiff sued to recover the $240,000.00 retained by the Trust on the theory that it was an unenforceable penalty rather than valid consideration for the loan commitment. Trial was to the court without a jury which entered judgment for the Plaintiff. Findings of fact and conclusions of law were requested and filed. We…
2Cases cited5 opinions
- Stewart v. BaseyTexas Supreme Court · 1952
- Tri-Cities Construction, Inc. v. American National Insurance Co.Court of Appeals of Texas · 1975
- Lowe v. Massachusetts Mutual Life InsuranceCalifornia Court of Appeal · 1976
- American National Insurance Co. v. Tri-Cities Construction, Inc.Court of Appeals of Texas · 1977
- Walker v. First Pennsylvania Bank, N.A.District Court, E.D. Pennsylvania · 1981
3Cited by19 opinions
- Casa El Sol-Acapulco, S.A. v. Fontenot, Texas Court of Appeals, 14th District (Houston)1996
- Woodbridge Place Apartments v. Washington Square Capital, Inc.Court of Appeals for the Seventh Circuit · 1992
- In Re Rally Partners, L.P.United States Bankruptcy Court, E.D. Texas · 2003
- Kelly v. Gaines, Texas Court of Appeals, 10th District (Waco)2005
- Valdina Farms, Inc. v. Brown, Beasley & Associates, Inc., Texas Court of Appeals, 4th District (San Antonio)1987
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