Legal Opinion
American National Bank & Trust Co. v. Young
Supreme Court of Minnesota
Decided February 4, 1983No. C9-82-258PublishedCited by 13 opinions
1Opinion of the Court
TODD, Justice.
An individual claiming to be Terry Robert Young borrowed $225,000 from the American National Bank to purchase an airplane. Avemco Insurance Company furnished insurance coverage on the airplane, including a “Breach of Warranty Endorsement.” The airplane was flown to Colombia where it was seized by the Colombian government. American National Bank, relying upon a deposition of Young in which he denied owning or financing the airplane, recovered $196,924.31 under a blanket bond. American subsequently sued Avemco seeking recovery of $221,924.31, the balance due on the note. American…
2Cases cited19 opinions
- Syndicate Ins. v. BohnCourt of Appeals for the Eighth Circuit · 1894
- Caledonia Community Hospital v. St. Paul Fire & Marine InsuranceSupreme Court of Minnesota · 1976
- Magoun v. Fireman's Fund InsuranceSupreme Court of Minnesota · 1902
- Southwestern Funding Corp. v. Motors Ins. Corp.California Supreme Court · 1963
- Smith v. Union Insurance Co., Etc.Supreme Court of Rhode Island · 1903
14 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Ingersoll-Rand Financial Corp. v. Employers Insurance of Wausau, a Mutual Co.Court of Appeals for the Fifth Circuit · 1985
- Commerce Bank v. West Bend Mutual Insurance CompanySupreme Court of Minnesota · 2015
- Minnesota Federal Savings & Loan Ass'n v. Iowa National Mutual Insurance Co.Court of Appeals of Minnesota · 1985
- Pittsburgh National Bank v. Motorists Mutual InsuranceOhio Court of Appeals · 1993
- Bast v. Capitol Indemnity Corp.Court of Appeals of Minnesota · 1997
8 more not listed; retrieve them via the Exa API.