Sexton v. St. Clair Federal Sav. Bank

The plaintiffs, William Jack Sexton and Marsha C. Sexton sued St. Clair Federal Savings Bank ("St. Clair"), alleging breach of contract and breach of fiduciary duty. The Sextons appeal from a partial summary judgment 1) in favor of St. Clair on the Sextons' fiduciary relationship claim and 2) holding that the Sextons could not recover certain damages on their breach of contract claim.1

This case arose out of an loan agreement between the Sextons and St. Clair, through which the Sextons borrowed approximately $160,000 from St. Clair to build a residence. The loan was secured by a construction…