Turk v. First National Bank of West University Place

OPINION

O’CONNOR, Justice.

This is an appeal from a judgment in a suit on a promissory note and guarantee. After a nonjury trial, the trial court rendered judgment in favor of First National Bank of West University Place. We reverse.

Marvin Turk, Defendant, was the maker and guarantor of the note, and the Bank was the holder. In 1986, the Bank sued defendant for non-payment of a promissory note. The note was secured by a deed of trust. Defendant filed a counterclaim, asserting that the Bank made false and misleading statements regarding the purpose and amount of the loan, and induced him to…