Federal Deposit Insurance Corp. v. Playford

MANN, Judge.

Mr. and Mrs. Playford jointly executed a note to the Industrial Savings Bank of St. Petersburg and received a check from the bank for the loan proceeds, made out to them jointly. They jointly endorsed this check in favor of George M. Nicholson, Agent, who apparently applied this amount to the purchase by Mr. Playford of Mr. Nicholson’s controlling shares in the Industrial Savings Bank. The trial court granted summary judgment to Mrs. Playford on the ground that the debt was her husband’s, and that she had not obligated herself for payment of her husband’s debt with the formality…