First Federal Savings & Loan Ass'n of Sylacauga v. Bell

SHORES, Justice.

T.R. Bell sued to determine whether he had any obligation to First Federal Savings and Loan Association of Sylacauga (“First Federal”) under a letter of credit. First Federal appeals from a summary judgment for Bell declaring that he had no obligation. We affirm.

The genesis of the controversy is a su-persedeas bond posted in another case, Butner v. Deupree, CV-85-1000061, Talladega Circuit Court. In that case, Deu-pree had suffered a judgment against him. He requested that First Federal issue a letter of credit to the court to support his bond. First Federal approved a loan to…