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  5. 723 S.W.2d 329 (1987)
 

GREAT ATLANTIC LIFE INS. CO. v. HARRIS

No. 14519.

723 S.W.2d 329 (1987)

GREAT ATLANTIC LIFE INSURANCE COMPANY, Appellant, v. Anthony G. HARRIS, Receiver for United Bankers Life Insurance Company, et al., Appellees.

Court of Appeals of Texas, Austin.

Rehearing Denied February 11, 1987.

Attorney(s) appearing for the Case

Mary Joe Carroll, David C. Duggins, Clark, Thomas, Winters & Newton, Austin, for appellant.

James T. Odiorne, Successor Receiver to Anthony G. Harris, Austin, Receiver for United Bankers Life Ins. Co.

Mauro L. Reyna, III, Austin, for Receiver.

Stuart M. Reynolds, Jr., Mark David, Moore & Peterson, Dallas, for Southern Nat. Life Ins. Co.

Before SHANNON, C.J., and GAMMAGE and CARROLL, JJ.

ON MOTION FOR REHEARING

GAMMAGE, Justice.

The prior opinion and judgment of this Court, dated November 5, 1986, are withdrawn, and the following is substituted therefor.

Great Atlantic Life Insurance Company (GAL) appeals from a take-nothing judgment rendered by the district court. We will reverse the judgment of the district court and render judgment in favor of appellant.

This case arises from the sale on January 22, 1981 of GAL to Roger...

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