Caprock Investment Corp. v. Federal Deposit Insurance Corp.

OPINION ’

W.G. ARNOT, III, Chief Justice.

This appeal arises out of the attempt to collect on a delinquent note. On December 30, 1987, Elton Montgomery, A1 Jon-ietz, Vernon Stevens, Tom Griffin, and Charles L. Cook, as individuals, executed a promissory note in the amount of $180,-000.00 payable to the Texas Bank & Trust Co. in Sweetwater, Texas. The loan was given for the purchase of producing oil, gas, and mineral leases in New Mexico and Oklahoma. The properties were purchased by Montgomery First Corp. and LEOH Management Co., a general partnership whose partners were Jonietz, Stevens,…