Ohio Valley Plastics, Inc. v. National City Bank

OPINION

ROBERTSON, Judge.

Ohio Valley Plasties, Inc. [Borrower] appeals the summary judgment entered in favor of National City Bank [Bank]. Borrower raises two issues, which we restate and consolidate into one as follows:

whether Borrower’s claim is barred by a relatively new Statute of Frauds found at Ind.Code 32-2-1.5 .which requires that credit agreements be in writing.

We affirm.

FACTS

The facts in the light most favorable to the nonmovant Borrower reveal that’ in early 1994," Borrower began negotiating to buy another company. Borrower applied to the Bank for a $300,000.00 line of credit to…