Legal Opinion
Gerald W. Atkinson, Susan A. Atkinson v. Federal Deposit Insurance Corporation, Etc.
Court of Appeals for the Fifth Circuit
Decided January 30, 1981No. 79-1531PublishedCited by 16 opinions
1Opinion of the Court
THOMAS A. CLARK, Circuit Judge:
This diversity case presents the question whether Alabama law permits a commercial bank to set off the unpaid indebtedness of a husband against a certificate of deposit jointly held by the husband and his wife. The district court ruled that Alabama law does permit a bank to set off against joint accounts in such circumstances. We reverse.
On September 15,1975, Gerald W. Atkinson 1 borrowed $33,000 from the First National Bank of Macon County, Notasulga, Alabama (“Macon Bank”). The loan was an unsecured installment loan with Gerald Atkinson as the sole obligor. In…
2Cases cited4 opinions
- United States v. Butterworth Judson Corp.Supreme Court of the United States · 1925
- Samuel Kaufman, as Trustee in Bankruptcy of A-Ok Motor Lines, Inc. v. The First National Bank of Opp, AlabamaCourt of Appeals for the First Circuit · 1974
- King v. PorterSupreme Court of Alabama · 1935
- First Nat. Bank of Abbeville v. CappsSupreme Court of Alabama · 1922
3Cited by16 opinions
- Interfirst Bank Abilene, N.A., Cross-Appellant v. Federal Deposit Insurance Corporation, as Receiver of Ranchlander National Bank, Cross-AppelleeCourt of Appeals for the First Circuit · 1985
- Spratt v. Security Bank of Buffalo, Wyo.Wyoming Supreme Court · 1982
- Patterson v. B.F. Goodrich Employees Federal Credit Union (In Re Patterson)United States Bankruptcy Court, N.D. Alabama · 1990
- Greenwood Ex Rel. Greenwood v. Bank of IllmoMissouri Court of Appeals · 1989
- IBM Poughkeepsie Employees Federal Credit Union v. Cumis Insurance Society, Inc.District Court, S.D. New York · 1984
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