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FIRST NAT'L BK. IN GRAND P. v. LONE STAR LIFE INS. CO.

No. 18487.

524 S.W.2d 525 (1975)

FIRST NATIONAL BANK IN GRAND PRAIRIE, Appellant, v. LONE STAR LIFE INSURANCE COMPANY, Appellee.

Court of Civil Appeals of Texas, Dallas.

Rehearing Denied May 15, 1975.

Attorney(s) appearing for the Case

Don C. Templin, Haynes & Boone, Dallas, for appellant.

William D. Sims, Jr., Jenkens & Gilchrist, Dallas, for appellee.

AKIN, Justice.

Lone Star Life Insurance Company sued the First National Bank in Grand Prairie to recover $30,000 plus interest which the bank refused to pay on a non-negotiable certificate of deposit payable to T. H. Hamilton. Lone Star alleged that it owns the certificate of deposit by virtue of foreclosure under a security agreement between Lone Star and Hamilton. The certificate of deposit was purchased by Hamilton with funds from Lone Star simultaneously with...

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