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DALLAS BANK & TRUST v. COM. DEVELOP. CORP.

No. 05-83-00930-CV.

686 S.W.2d 226 (1984)

DALLAS BANK AND TRUST COMPANY, Appellant, v. COMMONWEALTH DEVELOPMENT CORPORATION, American Industries Investments, Inc., and Forty-Five Fifteen Corporation, Appellees.

Court of Appeals of Texas, Dallas.

Rehearing Denied February 27, 1985.

Attorney(s) appearing for the Case

Steven L. Page, Witts & Wilson, Dallas, for appellant.

Nancy A. Thomas, Winstead, McGuire, Sechrest & Minick, John A. Price, Alan H. Cooper, Kasmir, Willingham & Krage, Dallas, for appellees.

Before STOREY, STEWART and SHUMPERT, JJ.

STOREY, Justice.

This appeal arises from an interpleader action filed by Dallas Bank and Trust Company against the beneficiary of its letter of credit and its customers (the account parties) for whom the letter of credit was issued. The beneficiary, Commonwealth Mortgage Corporation (successor to United Financial Corporation, the named beneficiary), recovered summary judgment in the interpleader action for the full amount of the funds tendered. After severance of...

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