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AMBERBOY v. SOCIETE de BANQUE PRIVEE

No. D-0986.

831 S.W.2d 793 (1992)

Emil J. AMBERBOY, et al., Appellants, v. SOCIETE de BANQUE PRIVEE, et al., Appellees.

Supreme Court of Texas.

April 15, 1992.

Attorney(s) appearing for the Case

Edward K. White, III, J. Leon Lebowitz, The Woodlands, E. John Gorman, Houston, for appellants.

J. Eugene Clements, Stephen B. Schulte, Jerry L. Mitchell, Jr., Houston, for appellees.

OPINION

CORNYN, Justice.

This case comes to us on a certified question from the United States Court of Appeals for the Fifth Circuit. The question is whether a promissory note requiring interest to be charged at a rate that can be determined only by reference to a bank's published prime rate is a negotiable instrument as defined by the Texas Uniform Commercial Code. Ackerman v. Federal Deposit Ins. Corp., 930 F.2d 3

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