Legal Opinion
International Dairy Queen, Inc. v. Bank of Wadley
District Court, M.D. Alabama
Decided February 6, 1976No. Civ. A. 75-68-EPublishedCited by 3 opinions
1Opinion of the Court
ORDER
VARNER, District Judge.
There is now presented the Plaintiff’s motion to strike the amended answer filed herein December 2, 1975, by Defendant Bank of Wadley. Plaintiff sues for breach of the terms of an allegedly irrevocable letter of credit. Defendant Bank defends on the ground that this letter of credit obligated it to lend a sum of money greater than that which banks are allowed to lend by the terms of Title 5, § 82, Code of Alabama, which provides, in pertinent part, as follows:
§ 82. Loan not to exceed twenty per cent of capital, surplus and undivided profits. — No bank shall lend to…
2Cases cited5 opinions
- Bates v. Bank of the StateSupreme Court of Alabama · 1841
- Bankers & Shippers Ins. Co. of NY v. BlackwellSupreme Court of Alabama · 1951
- Gill Printing Co. v. GoodmanSupreme Court of Alabama · 1932
- Georgia Fruit Exchange v. TurnipseedAlabama Court of Appeals · 1913
- Middleton v. Georgetown Mercantile Co.Mississippi Supreme Court · 1918
3Cited by3 opinions
- Riteway MacH., Etc. v. First Nat. Bank, Etc.Supreme Court of Alabama · 1979
- National Farmers Organization, Inc. v. Kinsley BankCourt of Appeals for the Ninth Circuit · 1984
- National Farmers Organization, Inc. v. The Kinsley BankCourt of Appeals for the Tenth Circuit · 1984