Legal Opinion
Federal Financial Co. v. Gerard
Court of Appeals of Washington
Decided January 12, 1998No. 39642-1-IPublishedCited by 13 opinions
1Opinion of the CourtCox, J.
May the assignee of a promissory note formerly held by the Federal Deposit Insurance Corporation (FDIC) as a receiver use the extended statute of limitations of federal law when suing on the note? We hold that under Washington law, the assignment of the note carries with it the right to use the extended statute of limitations provided by federal law. Accordingly, we reverse the trial court’s summary dismissal of the action and remand for further proceedings.
Donald S. Gerard executed a promissory note dated March 21, 1989, in the face amount of $22,725 in favor of Emerald City Bank. The note…
2Cases cited31 opinions
- O'Melveny & Myers v. Federal Deposit InsuranceSupreme Court of the United States · 1994
- Mt. Park Homeowners Ass'n, Inc. v. TydingsWashington Supreme Court · 1994
- Federal Deposit Insurance Corporation, Plaintiff-Counter v. Roy William Bledsoe, Defendant-Counter Claimant-AppelleeCourt of Appeals for the Fifth Circuit · 1993
- Jackson v. ThweattTexas Supreme Court · 1994
- Ackerman v. Port of SeattleWashington Supreme Court · 1960
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3Cited by13 opinions
- Carlile v. Harbour Homes, Inc.Court of Appeals of Washington · 2008
- Carlile v. Harbour Homes, Inc.Court of Appeals of Washington · 2008
- Global Financial Services, Inc. v. DuttenhefnerNorth Dakota Supreme Court · 1998
- GOSSEN v. JPMorgan Chase BankDistrict Court, W.D. Washington · 2011
- National Loan Investors Ltd. Partnership v. Heritage Square AssociatesConnecticut Appellate Court · 1999
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