Gardner v. Mercantile Bank of Memphis

CARL R. GAERTNER, Judge.

This action originated in November 1983 with the filing of a Petition by Van Willis Gardner alleging he was fraudulently induced to execute certain security agreements by officers of The Mercantile Bank of Memphis, who falsely told him he would not be required to pay a six-month promissory note for five years, or as long as he needed, if he furnished the bank with additional collateral. Mercantile Bank filed a counterclaim seeking to recover the amount due on a promissory note. On March 27, 1987, after a seven-day trial, a jury found in favor of Gardner on his fraud…