Hannigan v. First State Bank-Wylie

STOREY, Justice.

William V. Hannigan and Lucille Hanni-gan filed a declaratory judgment action against First State Bank — Wylie, Texas, seeking a declaration of the rights of all parties under the Bank’s security agreement which covered certain shares of stock given as security for a loan made by the Bank to the Hannigans. The Bank contends on appeal that the stock stood as security for the Hannigans’ note and, as well, for several pre-existing notes upon which William was solely liable. The Han-nigans, on the other hand, contend that the Bank’s security interest in the stock extended only to…