The Republic National Bank of Dallas, Petitioner v. Northwest National Bank of Fort Worth, Respondent

Summary

The Texas Supreme Court held that the instrument issued by Northwest National Bank was a valid, intra vires letter of credit rather than an ultra vires guaranty, and therefore enforceable. The Court also affirmed that prejudgment interest is available under article 5069-1.03 based on a general prayer for relief when a written contract establishes a sum payable on a certain date.