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STONE FORT NAT. BANK v. CITIZENS STATE BANK

No. 09 86 013 CV.

722 S.W.2d 508 (1986)

The STONE FORT NATIONAL BANK OF NACOGDOCHES, Appellant, v. The CITIZENS STATE BANK OF CORRIGAN, Appellee.

Court of Appeals of Texas, Beaumont.

December 11, 1986.

Attorney(s) appearing for the Case

William D. Guidry, Benchoff & Guidry, Nacogdoches, for appellant.

Joe Scott Evans, Evans & Kitchens, Groveton, for appellee.

OPINION

DIES, Chief Justice.

James Willson Enterprises, Inc., is a corporation owned entirely by its president, James Willson. The corporation was involved in the business of buying and selling heavy equipment, and also used heavy equipment on a contract basis. The corporation financed its inventory with the appellant bank (Stone Fort) and with the appellee bank (Citizens). In return for a $550,000.00 loan with...

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