Legal Opinion
United States v. Vahlco Corp.
Court of Appeals for the Fifth Circuit
Decided December 9, 1983No. 82-1511PublishedCited by 34 opinions
1Opinion of the Court
GEE, Circuit Judge:
In 1973, appellant Vahlco Corp. (Vahlco) opened a line of credit with the First National Bank of Seguin (the Bank) in the amount of $350,000. This loan was 90% guaranteed by the Small Business Administration (SBA) pursuant to the Small Business Act, 15 U.S.C. § 631 et seq. As is customary in such transactions, the extension of the major line of credit was preceded by a small “start-up” loan (here, $10,000) secured by assets of much greater value (here, Vahlco’s business premises) which were made security for the major loan by a future advances clause in the security…
2Cases cited30 opinions
- The Boeing Company v. Daniel C. ShipmanCourt of Appeals for the Fifth Circuit · 1969
- Federal Crop Ins. Corp. v. MerrillSupreme Court of the United States · 1947
- United States v. Kimbell Foods, Inc.Supreme Court of the United States · 1979
- Clearfield Trust Co. v. United StatesSupreme Court of the United States · 1943
- Schweiker v. HansenSupreme Court of the United States · 1981
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3Cited by34 opinions
- Hill v. BCTI Income Fund-IWashington Supreme Court · 2001
- Rev. Roy Jones v. The City of LubbockCourt of Appeals for the Fifth Circuit · 1984
- Jane McGinnis v. American Home Mortgage Servicing, Inc.Court of Appeals for the Eleventh Circuit · 2016
- Mavis Day v. South Park Independent School DistrictCourt of Appeals for the Fifth Circuit · 1985
- Duran v. Hyundai Motor America, Inc.Court of Appeals of Tennessee · 2008
29 more not listed; retrieve them via the Exa API.