# Gainesville Oil & Gas Co. v. Farm Credit Bank of Texas

> Court of Appeals of Texas · February 9, 1993 · 847 S.W.2d 655

URL: https://www.frixlaw.com/law-library/cases/9764211

## Case

- **Full name:** GAINESVILLE OIL & GAS CO., INC., Et Al., Appellants, v. FARM CREDIT BANK OF TEXAS, Et Al., Appellees
- **Court:** Court of Appeals of Texas
- **Decided:** February 9, 1993
- **Citations:** 847 S.W.2d 655; 1993 WL 29093
- **Precedential status:** Published
- **Opinion:** Concurrence by Cornelius
- **Judges:** Cornelius, Bleil, Chadick, Grant
- **Cited by:** 19 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/9764211

## How later opinions describe it (automated extraction)

- holding that evidence of bank’s misrepresentations prevented property owner from appearing at foreclosure sale
- holding fact issue did not exist regarding inadequate sale price where there was no evidence of land's market value at time of foreclosure sale
- reversing foreclosure after holding that mortgage-holder’s representations chilled bidding at foreclosure sale

## Opinion text

CORNELIUS, Chief Justice,
concurring.
I concur in the judgment and in the majority opinion, except its conclusion in discussion of Point IV that the appellants did not submit summary judgment evidence of a gross inadequacy of price. In my opinion, evidence that property having an actual value of more than $500,000.00 sold at a foreclosure sale for only $28,000.00 at least raises an inference that the property’s fair cash market value was grossly in excess of $28,000.00, and thus raises a fact issue on the question whether the property brought a grossly inadequate price at the foreclosure sale.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/9764211. Public record. Not legal advice.