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ISLAND REC. DEV. v. REPUBLIC OF TEXAS SAV.

No. C-3762.

710 S.W.2d 551 (1986)

ISLAND RECREATIONAL DEVELOPMENT CORPORATION, et al., Petitioners, v. REPUBLIC OF TEXAS SAVINGS ASSOCIATION, et al., Respondents.

Supreme Court of Texas.

Rehearing Denied June 25, 1986.

Attorney(s) appearing for the Case

Robert M. Hardy, Jr., Butler & Binion, Houston, Jon B. Burmeister, Moore, Landrey, Garth & Jones, Beaumont, for petitioners.

Carrin F. Patman, Bracewell & Patterson, Houston, Roger S. McCabe, Mehaffy, Weber, Keith & Gonsoulin, Beaumont, Brian R. Davis, Davis DeShazo & Gill, Austin, for respondents.

ON MOTION FOR REHEARING

WALLACE, Justice.

We grant the motion for rehearing, withdraw the opinion and judgment of July 3, 1985, and substitute this opinion.

Island Recreational Development Corporation and Sea Cabins, Inc. (Island) sued Republic Bank of Texas Savings Association and Bankers Capital Corporation (Republic) for breach of contract in failing to comply with its obligations under a loan commitment letter. The trial court rendered judgment...

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