Chase Manhattan Bank, N.A. v. Greenbriar North Section II

OPINION

DUNN, Justice.

This is an appeal of a summary judgment granted to appellees in a deficiency suit. We affirm.

Facts

In June of 1982, Greenbriar North Section II (Greenbriar), a joint venture composed of Fred Rizk Construction Company, Peninsula Trade Corporation, N.V., and Ibrahim Trade Corporation, N.V., executed a promissory note payable to Lincoln First Bank, N.A. (Lincoln), in the principal amount of $5,000,000. The note was executed by Fred Rizk on behalf of Greenbriar and its members. It was negotiated and signed in New York. The note provided that “[tjhis note shall be governed by…