Legal Opinion
Ca 79-2939 Carondelet Savings & Loan Association, Plaintiff-Cross v. Citizens Savings & Loan Association, Defendant-Cross
Court of Appeals for the Seventh Circuit
Decided August 3, 1979No. 78-2119PublishedCited by 15 opinions
1Opinion of the Court
CUMMINGS, Circuit Judge.
On October 14, 1965, defendant Citizens Savings & Loan Association (Citizens) sold plaintiff Carondelet Savings & Loan Association (Carondelet) a 35% interest in a certain loan and the parties entered into a loan participation agreement which provided that Citizens was to service the loan. Citizens foreclosed on the real estate securing the loan in May 1973 and at the same time Carondelet sued Citizens for breach of fiduciary obligation and breach of contract. 1 Claiming that Citizens should have foreclosed sooner and should not have agreed to certain modifications of…
2Cases cited5 opinions
- Brown v. Commercial National BankIllinois Supreme Court · 1969
- Fritze v. Equitable Building & Loan SocietyIllinois Supreme Court · 1900
- Boryca v. ParryIllinois Supreme Court · 1962
- Africani Home Purchase & Loan Ass'n v. CarrollIllinois Supreme Court · 1915
- Board of County Commissioners v. CookSupreme Court of Kansas · 1935
3Cited by15 opinions
- Den Norske Bank As v. First Nat'L of BostCourt of Appeals for the First Circuit · 1996
- Mescalero Energy, Inc. v. Underwriters Indemnity General Agency, Inc., Texas Court of Appeals, 1st District (Houston)2001
- First National Bank of Louisville v. Continental Illinois National Bank and Trust Company of ChicagoCourt of Appeals for the First Circuit · 1991
- Advance Mortgage Corp. v. Concordia Mutual Life Ass'nAppellate Court of Illinois · 1985
- CIBC Bank & Trust Co. v. Banco Central Do BrasilDistrict Court, S.D. New York · 1995
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