GXG, INC. v. Texacal Oil & Gas

OPINION

HINOJOSA, Justice.

This dispute arose from a conveyance of real and personal property interests. After appellee, Texacal Oil & Gas (“Texacal”), failed to make scheduled payments on a promissory note, appellant, GXG, Inc. (“GXG”), sought to foreclose on the properties. Texacal sued, seeking to block foreclosure on the properties, cancellation of the deed of trust and promissory note, abatement of the purchase price, quieting of title, and damages. GXG counterclaimed against Texacal and instituted a third-party action against appellee, Ted O’Connor (“O’Connor”), Texacal’s president. GXG…