Farm Crop Energy, Inc. v. Old National Bank

(dissenting) — To comprehend the understanding between the parties and the developing atmosphere in which the arrangements took place, it is necessary to recount some of the circumstances omitted by the majority.

The commitment letter issued by Old National Bank (ONB) in February 1981 which was the initial framework of the relationship read:

The Old National Bank of Washington is pleased to offer to Farm Crop Energy Corporation a loan in the amount of $1,475,000 subject to the following terms and conditions:

1. Interest on the principal balance of the loan will be charged at the bank's prime…