Legal Opinion
Jersey State Bank, Cross-Appellant v. United States of America, Cross-Appellee
Court of Appeals for the Seventh Circuit
Decided February 21, 1991No. 90-1522, 90-1730PublishedCited by 9 opinions
1Opinion of the Court
POSNER, Circuit Judge.
The Internal Revenue Service, having assessed (demanded) taxes due from Marion Price, served a notice of levy on the Jersey State Bank, in which Price had a demand deposit account — a notice, in other words, that the Service intended to seize the account in order to collect the assessment. 26 U.S.C. § 6331. Price had borrowed money from the bank for his business in exchange for a note that not only promised to repay the loan but also purported to give the bank a security interest in the deposit account and a right to set off money in that account against Price’s debt to…
2Cases cited9 opinions
- United States v. City of New BritainSupreme Court of the United States · 1954
- United States v. Pioneer American InsuranceSupreme Court of the United States · 1963
- Texas Commerce Bank-Fort Worth, N.A., Plaintiff-Appellee/cross-Appellant v. United States of America, Defendant-Appellant/cross-AppelleeCourt of Appeals for the Fifth Circuit · 1990
- Aetna Insurance Company v. Texas Thermal Industries, Inc. v. Small Business AdministrationCourt of Appeals for the Fifth Circuit · 1979
- J.D. Court, Inc., a Corporation v. United States of America, Acting Through the Department of Treasury, Internal Revenue ServiceCourt of Appeals for the Seventh Circuit · 1983
4 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Farmers State Bank v. NeeseAppellate Court of Illinois · 1996
- United States v. BCCI Holdings (Luxembourg), S.A.District Court, District of Columbia · 1996
- United States v. Carole F. LibrizziCourt of Appeals for the Seventh Circuit · 1997
- Amaya v. SantistevanNew Mexico Court of Appeals · 1992
- Farmers State Bank of Mentone, Inc. v. United States, Internal Revenue ServiceDistrict Court, N.D. Indiana · 1998
4 more not listed; retrieve them via the Exa API.