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GRAY v. F.D.I.C.

No. 01-91-00706-CV.

841 S.W.2d 72 (1992)

Virgie M. GRAY, Successor Administrator with Will Annexed of the Estate of Elmer J. Gray, Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for First Mexia Bank, Appellee.

Court of Appeals of Texas, Houston (1st Dist.).

October 29, 1992.

Attorney(s) appearing for the Case

Jay N. Gross, Eric J. Toher, Houston, for appellant.

Kerry L. Haliburton, Beverly Willis, Waco, for appellee.

Before OLIVER-PARROTT, C.J., and MIRABAL and PRICE, JJ.

OPINION ON MOTION FOR REHEARING

OLIVER-PARROTT, Chief Justice.

This case is an appeal from a judgment on a guaranty of a promissory note. We reverse and render a take-nothing judgment. We deny appellee's motion for rehearing, withdraw our previous opinion, and substitute the following opinion.

Prior to his death on December 26, 1986, Elmer J. Gray executed a guaranty agreement in October 1985 with First Mexia

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