Great American Insurance Co. v. Sharpstown State-Bank

GREENHILL, Justice.

This is a suit by Sharpstown State Bank on two promissory notes totaling $470,000, and on “note guaranty” bonds issued by the Petitioner, the Great American Insurance Company, guaranteeing the payment of the notes. Summary judgment was entered for the bank against the makers of the notes. No appeal was taken by the makers of the notes, and that matter is not before us.

What is before us is this: In the action against the Great American Insurance Company on the bonds, the insurance company defended on the grounds that the bonds were not issued by it; i. e., that the bonds…