First National Bank of Mexico v. Munns

SIMON, Judge.

Appellants appeal from a summary judgment ordering the delivery to respondent of funds held in a trust savings account assigned as security for a promissory note payable to respondent. We affirm.

Robert L. Munns borrowed $15,000 from the First National Bank of Mexico (respondent) and executed a promissory note in the same amount. He assigned a trust certificate of deposit in the amount of $15,104.86 as security for the note. Later, Robert L. Munns borrowed an additional $7,000 from the respondent and executed a promissory note in the same amount. He defaulted in the payment of the…