Myrick v. Moody National Bank

OPINION

MICHAEL MASSENGALE, Justice.

Appellant David B.T. Myrick, Jr. appeals from a declaratory judgment granted in favor of appellee Moody National Bank. The bank is the trustee and Myrick is a beneficiary of a trust created in 1934. Myrick sued the trustee, seeking a declaratory judgment that it did not have the authority to enter into a lease with terms extending beyond the termination date of the trust. The trustee countersued, seeking, among other things, a declaration of its right to enter into the proposed lease and its authority to borrow against the trust estate. Both parties moved…