Barclay International, Inc. v. First Alabama Bank of Montgomery, N.A.

JONES, Justice.

Barclay International (“Barclay”)1 appeals from a partial summary judgment, made final pursuant to Rule 54(b), A.R. Civ.P. The dispute between the parties is over their rights and duties under various agreements entered into by them, pursuant to a complex loan arrangement. Because the agreements are ambiguous and questions of fact exist, we reverse.

Part I

Facts

In July 1980, Barclay approached First Alabama Bank (“Bancshares”) with a request for a $2,000,000 loan to finance the purchase and construction of a manufacturing plant. This financing was to be handled as a long-term…