American Realty Trust, Inc. v. First Bank of Missouri

KENNEDY, Presiding Judge.

American Realty Trust, Inc. appeals from a judgment sustaining defendant’s motion to dismiss ART’s petition for failure to state a cause of action.

The defendant was First National Bank of Missouri, Gladstone. Plaintiffs petition alleged that the Bank had breached an agreement to lend ART the sum of $1,000,000, plus such additional sums as might be needed for completion of the contemplated improvements — a total of $1,250,000, for the purpose of upgrading a motel property owned by ART.

The petition alleged the following state of facts:

ART borrowed $3,000,000 from the…