Legal Opinion
Farm Crop Energy, Inc. v. Old National Bank
Court of Appeals of Washington
Decided July 3, 1984No. 5597-3-IIIPublishedCited by 5 opinions
1Opinion of the CourtThompson, J.
Old National Bank of Washington (ONB) appeals a judgment entered on a verdict of $295,000 in favor of Farm Crop Energy, Inc. (Farm Crop), for ONB's revocation of a loan commitment. We affirm.
In 1980, Farm Crop was formed for the purpose of constructing a fuel alcohol plant. In February 1981, ONB issued a commitment letter stating it would loan Farm Crop $1,475,000 if certain conditions were met, including individual guaranties, some limited and some unlimited, and a $500,000 loan guaranty from the Small Business Administration (SB A). The SB A required unlimited guaranties from all investors,…
2Cases cited26 opinions
- Hoffman v. Red Owl Stores, Inc.Wisconsin Supreme Court · 1965
- Klinke v. Famous Recipe Fried Chicken, Inc.Washington Supreme Court · 1980
- Bowman v. WebsterWashington Supreme Court · 1954
- Fretz Construction Co. v. Southern National Bank of HoustonTexas Supreme Court · 1982
- Ross v. HardingWashington Supreme Court · 1964
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3Cited by5 opinions
- Colonial Imports, Inc. v. Carlton Northwest, Inc.Washington Supreme Court · 1993
- Farm Crop Energy, Inc. v. Old National BankWashington Supreme Court · 1988
- Seattle-First National Bank v. SiebolCourt of Appeals of Washington · 1992
- Farm Crop Energy, Inc. v. Old National BankWashington Supreme Court · 1988
- Farm Crop Energy, Inc. v. Old National BankWashington Supreme Court · 1988