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McGUIRE v. FEDERAL DEP. INS. CORP.

No. 16862.

561 S.W.2d 213 (1977)

James E. McGUIRE et ux., Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of Sharpstown State Bank, Appellee.

Court of Civil Appeals of Texas, First District.

Rehearing Denied November 17, 1977.

Attorney(s) appearing for the Case

Moore, Putnam & Larson, Gene E. Putnam, Houston, for appellants.

Baker & Botts, Allister M. Waldrop, Jr., Norris Dennard, Houston, for appellee.

EVANS, Justice.

This is an appeal from a deficiency judgment rendered against Mr. and Mrs. McGuire, the original makers of a promissory note made payable to Gibraltar Savings Association in the principal amount of $26,100.00. The note dated July 27, 1965, represented a part of the purchase price of a condominium unit purchased by the McGuires from Condominium, Inc. and it was secured by a deed of trust in favor of Gibraltar Savings Association.

In May 1966...

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