Court of Appeals of Texas October 15, 1980, No. A2458 (Federal Deposit Insurance Corp. v. Manning)

JUNELL, Justice.

Appellant, Federal Deposit Insurance Corporation, Liquidator of Northeast Bank (F.D.I.C.), plaintiff in the court below, sued Thomas M. Manning, appellee, on a promissory note. A portion of the unpaid balance on the note had been charged off before Northeast Bank, which held the note, was closed and placed in receivership. F.D.I.C.