Legal Opinion
First Interstate Bank v. Nelco Enterprises, Inc.
Court of Appeals of Washington
Decided February 4, 1992No. 10440-1-IIIPublishedCited by 3 opinions
1Opinion of the CourtThompson, J.
Western Frontiers, Inc., 1 and Magnuson Limited Partnership (collectively Joint Venture) appeal a judgment ordering them to indemnify and hold harmless certain individuals and BNS Associates (collectively Nelson Group) from liability on two promissory notes. We reverse.
In 1973, Nelson & Gale, Inc., obtained a loan for constructing a Holiday Inn in Richland. Nelco Enterprises, Inc., was spun off for purposes of owning and operating the Inn. In 1977, the loan was rewritten to finance expansion. Two promissory notes in the face amount of $1,850,000 each were signed by both corporations…
2Cases cited9 opinions
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- Fluke Capital & Management Services Co. v. RichmondWashington Supreme Court · 1986
- Hemenway v. MillerWashington Supreme Court · 1991
- Continental Mutual Savings Bank v. ElliottWashington Supreme Court · 1932
- Leuning v. HillWashington Supreme Court · 1971
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3Cited by3 opinions
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