FED. NAT. MORTG. ASS'N v. OAK CLIFF BANK & TRUST CO.

No. 4995.

552 S.W.2d 190 (1977)

FEDERAL NATIONAL MORTGAGE ASSOCIATION, Appellant, v. OAK CLIFF BANK AND TRUST COMPANY, Appellee.

Court of Civil Appeals of Texas, Eastland.

Rehearing Denied June 9, 1977.


Attorney(s) appearing for the Case

David Herndon and Duncan Boeckman (Golden, Potts, Boeckman & Wilson), Dallas, for appellant.

Harry A. Deford, II, Oak Cliff Bank and Trust Company, Legal Dept., Dallas, for appellee.


McCLOUD, Chief Justice.

Plaintiff, Federal National Mortgage Association sued defendant, Oak Cliff Bank and Trust Company, for breach of contract. At issue is whether defendant was required to assign to plaintiff a $25,187 letter of credit when defendant assigned a mortgage to plaintiff. Following a nonjury trial, judgment was entered for defendant. Findings of fact and conclusions of law were filed. We affirm.

On January 9, 1970, defendant, as mortgagee,...

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