Legal Opinion
American Trust Co. v. Reconstruction Finance Corp.
Appellate Division of the Supreme Court of the State of New York
Decided February 21, 1963Published
1Opinion of the CourtNoonan, J.
The defendants appeal from a judgment in the amount of $52,202.05 entered on the 14th day of October, 1960 in favor of the plaintiff.
The plaintiff, then known as the Pan American Trust Co., entered into a Blanket Participation Agreement, referred to as a “BPA Agreement ”, with the Reconstruction Finance Corporation dated May 10, 1945, which by its terms permitted the plaintiff to enter into loans generally for a limited amount upon compliance with the terms and conditions of the agreement and without the necessity of advance approval from Reconstruction Finance Corp. Likewise, by its terms…
2Cases cited6 opinions
- Moers v. . MoersNew York Court of Appeals · 1920
- Philip Krupp v. Federal Housing AdministrationCourt of Appeals for the First Circuit · 1961
- Jungmann Co., Inc. v. Atterbury Bros., Inc.New York Court of Appeals · 1928
- Central National Bank v. Reconstruction Finance Corp.District Court, N.D. Illinois · 1955
- Oklahoma National Bank v. Reconstruction Finance Corp.District Court, W.D. Oklahoma · 1951
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