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  5. 578 S.W.2d 109 (1978)
 

REP. NAT. BANK OF DALLAS v. NORTHWEST NAT. BANK OF FORT WORTH

No. B-7731.

578 S.W.2d 109 (1978)

The REPUBLIC NATIONAL BANK OF DALLAS, Petitioner, v. NORTHWEST NATIONAL BANK OF FORT WORTH, Respondent.

Supreme Court of Texas.

On Rehearing March 7, 1979.

Rehearing Denied April 4, 1979.

Attorney(s) appearing for the Case

Green, Gilmore, Rothpletz & Hyden, Frank B. Rynd, Gardere, Parker & Dehay, Arthur Blanchard, Dallas, for petitioner.

Farris & Thompson, Thomas L. Farris, Fort Worth, for respondent.

McGEE, Justice.

The Republic National Bank of Dallas sued Northwest National Bank of Fort Worth on an instrument entitled "IRREVOCABLE LETTER OF CREDIT." The disposition of this appeal hinges on the enforceability of that instrument.

The facts of the case are virtually undisputed. In December of 1968 Ronald Hughes, Dudley Hughes, Sr., and Dudley Hughes, Jr., became interested in purchasing the stock of Crown Hill Memorial Park, Inc., corporate owner of a north...

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