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SOUTHERN NATIONAL BANK OF HOUSTON v. BLAKEWAY

No. 622.

487 S.W.2d 234 (1972)

SOUTHERN NATIONAL BANK OF HOUSTON, Appellant, v. Clayton E. BLAKEWAY et al., Appellees.

Court of Civil Appeals of Texas, Houston (14th Dist.).

Rehearing Denied September 13, 1972.

Attorney(s) appearing for the Case

George H. Hagle, Bass C. Wallace, Hall E. Timanus, Andrews, Kurth, Campbell & Jones, Houston, for appellant.

Warner F. Brock, Brock & Williams, Houston, for appellees.

TUNKS, Chief Justice.

In August of 1964 Clayton Blakeway, William B. Ward and Wilbur Clarke formed a Texas limited partnership, Austin Crest Venture, Ltd., to build the Crest Hotel in Austin. The site, overlooking Town Lake, was sold by Blakeway to the limited partnership.

The cost of such venture was estimated to be 3.3 million dollars. Of this amount, six Austin banks and savings and loan associations and a San Antonio Savings and Loan Association (hereafter...

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