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CANYON LAKE BANK v. NEW BRAUNFELS UTILITIES

No. 13456.

638 S.W.2d 944 (1982)

CANYON LAKE BANK, Appellant, v. NEW BRAUNFELS UTILITIES, Appellee.

Court of Appeals of Texas, Austin.

Rehearing Denied September 22, 1982.

Attorney(s) appearing for the Case

Robert J. Hearon, Jr., David Cohen, Graves, Dougherty, Hearon & Moody, Austin, Edwin K. Nolan, Canyon Lake, for appellant.

Thomas N. Bluntzer, Bartram, Reagan, Burrus & Dierksen, New Braunfels, for appellee.

PHILLIPS, Chief Justice.

This is an appeal from the district court's grant of appellee's motion for summary judgment. Appellee, New Braunfels Utilities, filed suit on July 15, 1980 against Richard Sledge for conversion of its funds to his own use and against Canyon Lake Bank for breach of its depository contract with appellee. The Bank is alleged to have misapplied trust funds held for the utility to the personal debts and obligations of Sledge at the Bank. A default...

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