Claude W. Ogden, Jr., Petitioner v. Gibraltar Savings Association, Respondent

Summary

The Texas Supreme Court held that the August 17, 1978 letter did not provide the required notice of intent to accelerate, reversed the Court of Civil Appeals, and entered judgment for Ogden for $49,600 plus interest. The Court distinguished notice of intent to accelerate from notice that the debt had been accelerated and found the former lacking. Justice Barrow dissented, arguing the letter was sufficient notice and would have affirmed the lower courts.