Legal Opinion
In the Matter of United Sciences of America, Inc., Debtor. Daniel J. Sherman v. First City Bank of Dallas
Court of Appeals for the First Circuit
Decided February 6, 1990No. 89-1457PublishedCited by 46 opinions
1Opinion of the Court
E. GRADY JOLLY, Circuit Judge:
In this bankruptcy appeal we must decide whether a bank obtains an impermissible set-off in violation of 11 U.S.C. § 553(a) when it exercises its contractual right during the prohibitive period to debit “charge-backs” against the commercial account of a merchant depositor for credit card refunds. The appellant Sherman contends that the district court erred in holding that the ap-pellee First City Bank did not violate 11 U.S.C. § 553(a). 1 We affirm.
The debtor, United Sciences of America, Inc. (“USA”) sold vitamins, nutrients, and other health food products. In…
2Cases cited6 opinions
- In the Matter of Missionary Baptist Foundation of America, Inc., Debtors. Robert B. Wilson, Trustee v. Robert G. HuffmanCourt of Appeals for the Fifth Circuit · 1983
- In Re Southern Industrial Banking Corporation, Debtor. Thomas Duvoisin, Liquidating Trustee, and Bank of Commerce, Intervening v. Emmett J. FosterCourt of Appeals for the Sixth Circuit · 1987
- In the Matter of Elcona Homes Corporation, Debtor-Appellant. Green Tree Acceptance, Inc.Court of Appeals for the Seventh Circuit · 1988
- Braniff Airways, Inc. v. Exxon Co.Court of Appeals for the Fifth Circuit · 1987
- Sherman v. First City Bank of DallasDistrict Court, N.D. Texas · 1989
1 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- In the Matter of Joseph D. Smith, Doing Business as J.D. Management Services and G.L. Properties, Debtor. Appeal of David R. Boyer, TrusteeCourt of Appeals for the Seventh Circuit · 1992
- United States of America, Acting Through the Agricultural Stabilization and Conservation Service v. Willis R. GerthCourt of Appeals for the Eighth Circuit · 1993
- Electronic Merchant Systems LLC v. Peter GaalCourt of Appeals for the Sixth Circuit · 2023
- United States Ex Rel. Federal Communications Commission v. GWI PCS 1 Inc. (In Re GWI PCS 1 Inc.)Court of Appeals for the Fifth Circuit · 2000
- Moratzka v. Visa U.S.A. (In Re Calstar, Inc.)United States Bankruptcy Court, D. Minnesota · 1993
41 more not listed; retrieve them via the Exa API.