Citizens First National Bank v. Hoyt

ALLBEE, Justice.

Defendant Millard L. Hoyt appeals from adverse judgments awarded to plaintiff Citizens First National Bank on Hoyt’s promissory note, and to defendant Paul V. Koff-man on his cross-petition against Hoyt. Two separate written agreements underlie the matters in controversy. The first, a farm management agreement effective November 1, 1971, was between the bank and Hoyt. By this agreement the bank was to undertake the management of certain of Hoyt’s properties in Iowa. Following execution of the management agreement, Hoyt borrowed $25,000 from the bank to purchase cattle in which…