Waite v. BancTexas-Houston, N.A.

OPINION

WARREN, Justice.

BancTexas obtained summary judgment against four individuals who personally guaranteed loans (“the guarantors”). Only one guarantor, Warren Waite, Jr., appeals.

Appellant Waite is a partner in Wilcrest I and II. In June 1983, Wilcrest I executed a $2,350,000 promissory note, and Wilcrest II executed a $400,000 promissory note, both payable to BancTexas. The notes were secured by deeds of trust to real estate, and appellant personally guaranteed the notes.

The promissory notes matured on June 13, 1985, and the partnerships defaulted. BancTexas foreclosed on the real…