Legal Opinion
Gulf Union Industries, Inc. v. Formation Security, Inc. v. Panhandle Bank & Trust Co., Formation Security, Inc. v. Gulf Union Industries, Inc.
Court of Appeals for the Fifth Circuit
Decided April 19, 1988No. 87-1137PublishedCited by 18 opinions
1Opinion of the Court
JERRE S. WILLIAMS, Circuit Judge:
Appellee Gulf Union Industries, Inc. (“Gulf Union”) delivered a bank cashiers check and a promissory note, both in the amount of $50,000, to Panhandle Bank & Trust Company pursuant to a Stock Purchase Agreement with Appellant Formation Industries, Inc. (“Formation”). Gulf Union later terminated the Agreement and demanded return of its escrow deposits. This case decides the ownership of those deposits.
Based upon diversity of citizenship, Gulf Union sued Formation and Panhandle Bank and Trust in federal district court in Texas. 1 The court granted summary…
2Cases cited14 opinions
- In the Matter of First Colonial Corp. Of America, Bankrupt. American Benefit Life Insurance Company, Appellants-Cross-Appellees v. Franz J. Baddock, Trustee, Appellee-Cross-Appellant. In the Matter of First Colonial Corp. Of America, Bankrupt. Bert K. Robinson v. American Benefit Life Insurance CompanyCourt of Appeals for the First Circuit · 1977
- Copper Liquor, Inc., Robert Earl Basham, Jr., or the Estate of Harold Letcher, Deceased, Cross-Appellant v. Adolph Coors Company, Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1982
- Copper Liquor, Inc. v. Adolph Coors Co.Court of Appeals for the Fifth Circuit · 1980
- Robert B. Carlton and Bobbie L. Carlton v. H. C. Price Company and Roger Dale MoyersCourt of Appeals for the Fifth Circuit · 1981
- Bailey T. Debardeleben and Richard Egan, Surviving Trustees of Debardeleben Employee's Retirement Plan v. Marcellus M. CummingsCourt of Appeals for the Fifth Circuit · 1972
9 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Cates v. Sears, Roebuck & Co.Court of Appeals for the Fifth Circuit · 1991
- Rachel Moore v. Mississippi Valley State UniversityCourt of Appeals for the Fifth Circuit · 1989
- Brenda Pope v. MCI Telecommunications CorporationCourt of Appeals for the Fifth Circuit · 1991
- Cates v. Sears, Roebuck & Co.Court of Appeals for the Fifth Circuit · 1991
- Susan A. Alizadeh v. Safeway Stores, Inc.Court of Appeals for the Fifth Circuit · 1990
13 more not listed; retrieve them via the Exa API.