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ALLIED ELEVATOR v. EAST TEXAS STATE BANK

No. 91-4434.

965 F.2d 34 (1992)

ALLIED ELEVATOR, INC., Tom E. Cobb, Betty M. Pierce, Individually and as Independent Executrix of the Estate of Bobby G. Pierce deceased, Plaintiffs-Appellants, v. EAST TEXAS STATE BANK OF BUNA, Texas, Credit Guard Life Insurance Co., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

July 13, 1992.

Attorney(s) appearing for the Case

Robert N. Brailas, J. Christopher Reynolds, Gibbs & Ratliff, Houston, Tex., for plaintiffs-appellants.

Robert Keith Wade, Wade & Gilmore, Beaumont, Tex., for F.D.I.C.

Robert J. Vander Lyn, Brockman, Coffey & Vander Lyn, Houston, Tex., for defendants-appellees.

Before DAVIS, JONES, and E. GARZA, Circuit Judges.

W. EUGENE DAVIS, Circuit Judge:

Appellants appeal the summary judgment the district court granted to the FDIC in its effort to collect on a note. We conclude that summary judgment was inappropriate because two issues of material fact were presented. We therefore reverse and remand.

I.

On February 11, 1985, Allied Elevator, Inc. (Allied) and its owner, Bobby G. Pierce, borrowed $50,000 from East Texas State Bank of Buna, Texas (Bank) and gave the...

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