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HETTIG & CO. v. UNION MUT. LIFE INS. CO.

No. 85-2560. Summary Calendar.

781 F.2d 1141 (1986)

HETTIG & COMPANY, Richard B. Hettig, John E. Hettig, W. Barry Kahn and Douglas Hicks, Plaintiffs-Appellants/Cross-Appellees, v. UNION MUTUAL LIFE INSURANCE COMPANY, Defendant-Appellee/Cross-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied March 5, 1986.

Attorney(s) appearing for the Case

Schlanger, Cook, Cohn, Mills & Grossberg, H. Miles Cohn, Houston, Tex., for plaintiffs-appellants/cross-appellees.

Johnson & Swanson, Mark T. Davenport, Doug K. Butler, Dallas, Tex., for defendant-appellee/cross-appellant.

Before CLARK, Chief Judge, WILLIAMS, and HIGGINBOTHAM, Circuit Judges.

PATRICK E. HIGGINBOTHAM, Circuit Judge:

We here interpret under Texas law provisions in a promissory note governing the calculation and payment of a prepayment premium. The district court, finding the provisions unambiguous, granted summary judgment. Because the provisions are susceptible to either of two opposing interpretations, we find them ambiguous, and reverse and remand for trial to consider extrinsic evidence necessary to resolve the ambiguity.

I...

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