On Appeal from the 62nd Judicial District Court Lamar County
The appellee loan company filed a motion for summary judgment in a suit on a promissory note against the appellant Enterprises, as maker of the note, and the appellant hotels, as guarantors of the note. The appellee attached its senior vice president's affidavit to its motion, stating the note was in default in that it was matured by acceleration. In response, the appellant hotels maintained that it did not receive a notice of intent to accelerate or a notice of acceleration for the original note or the modified note. The appellant hotels alleged that the trial court erred in granting summary judgment because there was an issue of material fact regarding whether the note was properly accelerated to maturity. The appellate court found that even though the correspondence evidences the intent to pursue legal action “to collect on the note,” such statements did not equate with notice of intent to accelerate the note. Because the evidence presented did not show that the appellee provided a notice of intent to accelerate, the appellee was not entitled to judgment as a matter of law. Accordingly, the trial court's judgment was reversed and remanded.