Hidalgo v. Surety Savings and Loan Association

This is the second appeal in a suit to recover the amount due on a promissory note and to foreclose a lien on real property. (Prior opinion at Tex., 462 S.W.2d 540.) Carolina Hidalgo executed a secured promissory note payable to Western States Improvement Company which negotiated the note and lien to Surety Savings and Loan Association. Hidalgo is in default, but she has raised the defense of failure of consideration.

Surety Savings has been granted summary judgment on the ground that its status as a holder in due course was established as a matter of law, Tex.Bus. & Commerce Code § 3.302;…