Legal Opinion
Federal Deposit Insurance Corp. v. Henry E. McClanahan
Court of Appeals for the Fifth Circuit
Decided July 30, 1986No. 85-1603PublishedCited by 144 opinions
1Opinion of the Court
PATRICK E. HIGGINBOTHAM, Circuit Judge:
Hoping to get a bank loan, the defendant recklessly signed a blank promissory note and delivered it to a man he knew had been convicted of bank fraud. When the bank failed, it was.discovered.that the note had been filled in to reflect a loan that the defendant never received. We hold that under the rule of D’Oench, Duhme & Co. v. FDIC, 315 U.S. 447, 62 S.Ct. 676, 86 L.Ed. 956 (1942), the defendant was es-topped from asserting failure of consideration or fraud in the inducement when the FDIC, acting as receiver for the failed bank, sued on the note.
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2Cases cited11 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- City of Milwaukee v. IllinoisSupreme Court of the United States · 1981
- Federal Deposit Insurance Corporation, Etc., and v. Santino D. Meo, AndCourt of Appeals for the Ninth Circuit · 1974
- Howell v. Continental Credit Corp.Court of Appeals for the Seventh Circuit · 1981
- Federal Deposit Insurance Corp. v. Charles HatmakerCourt of Appeals for the Sixth Circuit · 1985
6 more not listed; retrieve them via the Exa API.
3Cited by144 opinions
- Resolution Trust Corp. v. Dunmar Corp.Court of Appeals for the Eleventh Circuit · 1995
- Harold v. Beighley v. Federal Deposit Insurance Corporation, Etc.Court of Appeals for the Fifth Circuit · 1989
- Timberland Design, Inc. And William C. Barnsley v. First Service Bank for SavingsCourt of Appeals for the First Circuit · 1991
- James N. And Betty G. Bowen v. Federal Deposit Insurance Corporation, as Receiver for First Republicbank--El PasoCourt of Appeals for the First Circuit · 1990
- Federal Savings And Loan Insurance Corporation v. MurrayCourt of Appeals for the Fifth Circuit · 1988
139 more not listed; retrieve them via the Exa API.