Vastine v. Bank of Dallas

Respondent, Bank of Dallas, filed suit against Petitioner, William Vastine, to collect on Vastine’s personal guaranty of promissory notes executed by Advanced Communities, Inc. (ACI). The promissory notes were executed to finance construction of townhouses. Vastine originally guaranteed a total of $1,280,700, which covered two promissory notes of ACI. ACI defaulted on the second note and the Bank foreclosed on the security. The trial court rendered summary judgment against Vas-tine based on the guaranty and awarded $411,000 in deficiency damages, the amount of the second note less the…