Legal Opinion
Jimmy M. Reed v. Central National Bank of Alva, a Corporation
Court of Appeals for the Tenth Circuit
Decided January 23, 1970No. 240-69PublishedCited by 18 opinions
1Opinion of the Court
BREITENSTEIN, Circuit Judge.
The issue is whether an Oklahoma bank holding convertible debentures as collateral security for a loan is liable for failure to convert them into common stock to prevent an impairment in their value. The district court held that the bank had no duty and was not negligent. The pledgor, plaintiff-appellant Reed, appeals. Jurisdiction rests on diversity.
During the 1965 Christmas season pledgor, a California resident, visited his parents in Alva, Oklahoma. While there, he talked to Gertrude Meyers, the chairman of the board of the Central National Bank of Alva, where…
2Cases cited6 opinions
- Val Decker Packing Company, a Corporation v. Corn Products Sales Company, a CorporationCourt of Appeals for the Sixth Circuit · 1969
- Grace v. Sterling, Grace & Co.Appellate Division of the Supreme Court of the State of New York · 1968
- Robert E. McKee General Contractor, Inc., a Corporation v. Insurance Co. Of North America, a CorporationCourt of Appeals for the Tenth Circuit · 1959
- ABC Construction Co. of Oklahoma v. ThomasSupreme Court of Oklahoma · 1959
- In Re Federal Wholesale Meats & Frozen Foods, Inc.Wisconsin Supreme Court · 1969
1 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Empire Life Insurance Company of America v. Valdak CorporationCourt of Appeals for the Fifth Circuit · 1972
- Federal Deposit Ins. Corp. v. WebbDistrict Court, E.D. Tennessee · 1978
- FARMERS STATE BANK IN AFTON v. BallewCourt of Civil Appeals of Oklahoma · 1981
- R. Geoff Layne Charles E. Johnson, Jr. v. Bank One, Kentucky, N.A. Banc One Securities CorporationCourt of Appeals for the Sixth Circuit · 2005
- Fidelity Bank & T. Co. of NJ v. Production Metals Corp.District Court, E.D. Pennsylvania · 1973
13 more not listed; retrieve them via the Exa API.