Emil J. Amberboy, Appellants v. Societe De Banque Privee, Appellees

Summary

The Texas Supreme Court answered a certified question from the Fifth Circuit, holding that a promissory note whose interest rate is tied to a bank’s published prime rate satisfies the sum‑certain requirement and is therefore a negotiable instrument under the Texas Uniform Commercial Code. The Court explained its reasoning and noted that the answer does not apply to the underlying Fifth Circuit case.