San Pedro State Bank v. Engle

I concur.

This is a suit for breach of contract brought by two third party beneficiaries, hereinafter called plaintiffs, against San Pedro State Bank (Bank) to recover funds allegedly wrongfully disbursed by Bank from “an escrow account” which funds, they claim, should have been paid over to plaintiffs.

Grissom Apartments, Inc., proposed to build a large, multimillion dollar apartment complex in San Antonio. The financing would be partially by purchase of limited partnership shares in increments of $13,-500.00. The partnership would receive a percentage of ownership of the project, and, in…