Thompson v. Chrysler First Business Credit Corp.

840 S.W.2d 25, 1992 Tex. App. LEXIS 2473, 1992 WL 223882
CourtCourt of Appeals of Texas
DecidedJuly 30, 1992
Docket05-91-00955-CV
StatusPublished
Cited by72 cases

This text of 840 S.W.2d 25 (Thompson v. Chrysler First Business Credit Corp.) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Thompson v. Chrysler First Business Credit Corp., 840 S.W.2d 25, 1992 Tex. App. LEXIS 2473, 1992 WL 223882 (Tex. Ct. App. 1992).

Opinion

OPINION

CHAPMAN, Justice.

W. Brent Thompson appeals a summary judgment in favor of Chrysler First Business Credit Corporation in the amount of $201,436.44. In one point of error, appellant contends that the trial court erred in granting the motion for summary judgment. We affirm.

FACTS

On December 19, 1983, Marks Market, Inc. (Marks Market) signed a note (the Note) and borrowed $377,500 in real estate purchase money funds from B.A. Business Credit Corporation, the predecessor to Chrysler First Business Credit Corporation (Chrysler). Marks Market was purchasing the realty from Thompson. The loan was secured by a deed of trust and guaranteed by Thompson, Charla Marks, and Robert Marks. On December 20, 1984, Marks Market signed an Extension Agreement for Note and Deed of Trust extending installment payments on this debt until 2013.

Marks Market defaulted on the loan. In December 1987, Chrysler notified Marks Market and Thompson of the default. On April 6, 1988, Chrysler filed an action against Thompson, as guarantor, in Denton County seeking judgment for the balance on the Note in the amount of $348,055.36.

Marks Market filed a Chapter 11 bankruptcy petition in May 1988 to prevent foreclosure by Chrysler. Chrysler filed a motion to lift stay, and Marks Market agreed to pay Chrysler $1500 per month on the debt. Marks Market defaulted, 1 and the bankruptcy was dismissed in August 1989.

On October 2, 1989, Chrysler appointed Kathy Farruya as substitute trustee on the deed of trust. On October 3, 1989, while the Denton County action was pending, Chrysler non-judicially foreclosed its lien. Chrysler purchased the property at the foreclosure sale for approximately seventy percent of its fair-market value. The Den-ton County suit was dismissed. Chrysler then filed suit against Thompson in Dallas County for the deficiency, resulting in the judgment that is the subject of the suit. The trial court granted Chrysler’s motion *28 for summary judgment, from which Thompson appeals.

LAW

1.Standard of Review— Summary Judgment

Summary judgment may be rendered only if the pleadings, depositions, admissions and affidavits show that (1) there is no genuine issue as to any material fact and (2) the moving party is entitled to judgment as a matter of law. Tex.R.Civ.P. 166a(c); Rodriguez v. Naylor Indus., Inc., 763 S.W.2d 411, 412 (Tex.1989). A summary judgment seeks to eliminate patently unmeritorious claims and untenable defenses, not to deny a party its right to a full hearing on the merits of any real issue of fact. Gulbenkian v. Penn, 151 Tex. 412, 416, 252 S.W.2d 929, 931 (1952).

In a summary judgment proceeding, the plaintiff, as movant, must conclusively prove its entitlement to prevail on each element of the cause of action as a matter of law. Swilley v. Hughes, 488 S.W.2d 64, 67 (Tex.1972). The plaintiff is not under any obligation to negate affirmative defenses. The pleading of an affirmative defense does not, in itself, defeat a motion for summary judgment by a plaintiff whose proof conclusively establishes its right to an instructed verdict. The defendant must come forward with evidence sufficient to raise an issue of fact with respect to each element of the defense to avoid summary judgment. Brownlee v. Brownlee, 665 S.W.2d 111, 112 (Tex.1984).

2.Suit on a Note—Deficiency

Where a validly executed note goes into default and there is a resulting trustee’s sale of the security for the note, the mortgagee must prove the following elements before it is entitled to a judgment for any deficiency remaining on the note:

(1) the amount due on the note at the time of foreclosure;
(2) that proper notice of acceleration has been given;
(3) that a valid foreclosure sale was made; and
(4) that he has given credit to the obligor for the amount received at the trustee’s sale and any other legitimate credit.

Caruth Mortgage Corp. v. Ford, 630 S.W.2d 897, 899 (Tex.App.—Houston [1st Dist.] 1982, no writ); Williams v. Henderson, 580 S.W.2d 37, 39-40 (Tex.Civ.App.—Houston [1st Dist.] 1979, no writ).

APPLICATION OF THE LAW TO THE FACTS

SUIT ON THE GUARANTY

A. Amount Due

1. Applicable Law—Balance Due

A statement of the balance due will support a motion for summary judgment. See Ecurie Cerveza Racing Team v. Texas Commerce Bank, 633 S.W.2d 574, 575 (Tex.App.—Houston [14th Dist.] 1982, no writ).

2. Chrysler’s Summary Judgment Evidence/Holding

In paragraph fifteen of his affidavit, John Cattlett, Chrysler’s account executive, states that, “At the time of the foreclosure sale, the principal balance on the note was three hundred thirty thousand four hundred fourteen and 08/100 dollars ($330,-414.08) and the accrued interest balance was one hundred thirteen thousand seven hundred seventeen and 16/100 dollars ($113,717.16), totalling the sum of four hundred forty-four thousand one hundred thirty-one and 24/100 dollars ($444,131.24).”

3.Thompson’s Contentions

(a) Conclusory Affidavit

Thompson filed an objection to the Cattlett affidavit in the trial court. He contended that the affidavit testimony regarding the amount due was hearsay and conclusory. On appeal, Thompson argues that Cattlett’s testimony was conclusory because the principal and interest calculations were not set forth in detail, but, rather, only the balances due were given. Thompson complains that Chrysler did not set forth its computations of principal, interest, and the payments to be made by *29 Marks Market. However, the record reflects that Thompson failed to obtain a ruling on this objection. Failure to object and obtain a ruling amounts to a waiver. Tex.R.App.P. 52(a). This rule applies to summary judgments. Wenco of El Paso/Las Cruces, Inc. v. Nazario, 783 S.W.2d 663, 665 (Tex.App.—El Paso 1989, no writ); Utilities Pipeline Co. v. American Petrofina Mktg., 760 S.W.2d 719, 723 (Tex.App.—Dallas 1988, no writ). Even had this objection been preserved, we hold that the statements concerning the principal and interest balances were not conclusory. See 8920 Corp. v. Alief Alamo Bank, 722 S.W.2d 718, 720 (Tex.App.—Houston [14th Dist.] 1987, writ ref’d n.r.e.); Sharpe v. Lomas Nettleton Fin. Corp., 601 S.W.2d 55

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Bluebook (online)
840 S.W.2d 25, 1992 Tex. App. LEXIS 2473, 1992 WL 223882, Counsel Stack Legal Research, https://law.counselstack.com/opinion/thompson-v-chrysler-first-business-credit-corp-texapp-1992.