Fina Supply, Inc., Petitioner v. Abilene National Bank, Abilene, Texas N/k/a Mbank Abilene, N.a., Respondents

Summary

The Texas Supreme Court affirmed the Court of Appeals' judgment that Fina Supply is not entitled to recover on its fraud claim, cannot obtain reformation of the letter of credit, and that no election of remedies bars its claim. The Court held that Kiser's statements were opinions on legal effect, not actionable fraud, and that the letter of credit could not be reformed absent mutual mistake.