Glens Falls Insurance Co. v. State National Bank of El Paso

OPINION

RAMSEY, Chief Justice.

Glens Falls Insurance Co., Plaintiff-Appellant, filed suit against The State National Bank of El Paso, Defendant-Appellee, to rescind a sales transaction and for damages. Trial was to a jury. The trial Court entered judgment for the Defendant. We reverse and render.

The facts are relatively uncontroverted. Plaintiff had bonded a defaulting contractor on a road project. Defendant, through its loan officer, Jim Alcorn, loaned $2,200.-00 to a bank customer named Howard Martin, and as security for the loan, obtained a mortgage on a truck with a slurry machine attached.…