Legal Opinion
Fidelity Mutual Life Insurance v. Harris Trust & Savings Bank
Court of Appeals for the Seventh Circuit
Decided December 12, 1995No. 95-1884PublishedCited by 1 opinion
1Opinion of the Court
POSNER, Chief Judge.
The appeal in this diversity suit presents issues of Illinois property and contract law. In 1986 the plaintiff, Fidelity, made a $3.6 million loan to an Illinois land trust that held title to a commercial property. The trustee was an Illinois bank, the beneficiary a partnership, Kaiser Investments. The loan was secured by a mortgage on the property, but in addition Kaiser Investments executed a *1308“Borrower’s Affidavit” that contained a number of warranties and representations designed to induce Fidelity to make the loan. One of the paragraphs of the affidavit states that…
2Cases cited11 opinions
- People v. Chicago Title & Trust Co.Illinois Supreme Court · 1979
- Harms v. SpragueIllinois Supreme Court · 1984
- Tepfer v. Deerfield Savings & Loan Ass'nAppellate Court of Illinois · 1983
- In the Matter of Wheaton Oaks Office Partners Limited Partnership, Debtor-AppellantCourt of Appeals for the Seventh Circuit · 1994
- De Kalb Bank v. PurdyAppellate Court of Illinois · 1988
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3Cited by1 opinion
- Fidelity Mutual Life Insurance Company v. Harris Trust And Savings BankCourt of Appeals for the Seventh Circuit · 1995