MARCHMAN v. NCNB TEXAS NAT. BANK

No. 21415.

898 P.2d 709 (1995)

120 N.M. 74

Herb MARCHMAN, Marchman Enterprises, Inc., Estate of John Burroughs, and American Nut Company, Inc., Plaintiffs-Appellees, and Cross-Appellants, v. NCNB TEXAS NATIONAL BANK, Defendant-Appellant, and Cross-Appellee.

Supreme Court of New Mexico.

June 5, 1995.


Attorney(s) appearing for the Case

Madison, Harbour, Mroz & Puglisi, P.A., William C. Madison, M. Eliza Stewart, Gregory D. Steinman, Albuquerque, for appellant.

Felker, Ish, Hatcher, Ritchie, Sullivan & Geer, P.A., Carol J. Ritchie, Santa Fe, for appellees.


OPINION

FRANCHINI, Justice.

The lawsuit underlying this appeal and cross-appeal was filed in the First Judicial District by a Texas corporation; a New Mexico corporation owning all the stock of the Texas corporation; and two shareholders of the New Mexico corporation, one of whom was the president of both corporations. The complaint alleged that a Texas bank had acquired a promissory note executed by the Texas corporation, and, after assuring the...

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