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LAWYERS SURETY CORP. v. RIVERBEND BANK

No. 2-97-227-CV.

966 S.W.2d 182 (1998)

LAWYERS SURETY CORPORATION, Appellant, v. RIVERBEND BANK, N.A., Appellee.

Court of Appeals of Texas, Fort Worth.

March 26, 1998.

Attorney(s) appearing for the Case

Sullivan, Ave & Holston, G. Dennis Sullivan, Dallas, for Appellant.

Malcolm G. Nichols, Arlington, for Appellee.

Before DAY, RICHARDS, and HOLMAN, JJ.

OPINION

DAY, Justice.

In this case of first impression, we must determine whether a "floor plan" between a bank and a car dealer is within the scope of a statutory motor vehicle dealer's surety bond, so that the bank can recover on the bond if the dealer defaults on the floor plan. We hold that it is not. Accordingly, we reverse the trial court's judgment for appellee Riverbend Bank, N.A. (Riverbend) and render judgment for appellant Lawyers Surety Corporation...

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