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PETROLEUM, ETC., CORP. v. FIRST NAT. BANK

No. 18610.

622 S.W.2d 152 (1981)

PETROLEUM EQUIPMENT FINANCIAL CORPORATION, Donald L. Bauer and Robert L. Wenz, Appellants, v. The FIRST NATIONAL BANK OF FORT WORTH, Appellee.

Court of Appeals of Texas, Fort Worth.

Rehearing Denied October 21, 1981.

Attorney(s) appearing for the Case

John R. Lively, Fort Worth, McGinnis, Lochridge & Kilgore and David L. Orr, Austin, for appellants.

Cantey, Hanger, Gooch, Munn & Collins and Evelyn R. Leopold, Fort Worth, for appellee.

OPINION

RICHARD L. BROWN, Justice.

Petroleum Equipment Financial Corporation (PEFCO) executed a note to The First National Bank of Fort Worth (Bank) for $421,000.00 in May of 1979. Donald Bauer (Bauer) and Robert Wenz (Wenz) were guarantors of the note. The principal and interest were to be paid in monthly installments. After paying $53,731.48 PEFCO defaulted. Bank instituted action in district court to recover from PEFCO, Bauer and Wenz $367,268.52 as principal...

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