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McALLEN STATE BANK v. TEXAS BANK AND TRUST CO.

No. 17003.

423 S.W.2d 932 (1967)

McALLEN STATE BANK, Appellant, v. TEXAS BANK AND TRUST COMPANY, Trustee, Appellee.

Court of Civil Appeals of Texas. Dallas.

Rehearing Denied February 2, 1968.

Attorney(s) appearing for the Case

Wilson Herndon, of Strasburger, Price, Kelton, Miller, Martin & Unis, Dallas, D.F. Martinak and Ralph L. Alexander, of Kelley, Looney, McLean & Littleton, Edinburgh, for appellant.

Jay S. Fichtner, of Berman & Fichtner, Dallas, for appellee.

BATEMAN, Justice.

Each party to this appeal claims the proceeds of a policy of insurance on the life of R. B. Welch, Jr. The appellant claims that the policy was pledged to it as collateral security to Welch's indebtedness to it. Appellee is the trustee of an inter vivos trust of which Welch's wife and children are the beneficiaries. At the end of a nonjury trial, the court awarded the money to appellee. We affirm.

Facts

The note held...

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