Legal Opinion
Pardue v. BANKERS FIRST FEDERAL SAVINGS & LOAN ASSOCIATION
Court of Appeals of Georgia
Decided September 5, 1985No. 70553PublishedCited by 17 opinions
1Opinion of the Court
Birdsong, Presiding Judge.
Appellants Pardue and O’Connor and others were loan debtors to appellee Bankers First Federal Savings & Loan Association. The bank offered a “lump sum discounted mortgage payoff plan” of loan prepayment. These discounts for mortgage prepayment resulted in tax liability to appellants under the Internal Revenue Code.
Appellants’ class action suit claimed the bank was liable to them for failing a fiduciary duty to inform them the prepayment would result in tax liability. They sued for $5,000,000 actual and punitive damages and attorney fees.
In granting the bank’s motion…
2Cases cited5 opinions
- Shaw v. Cook County Federal Savings & Loan Ass'nCourt of Appeals of Georgia · 1976
- Hubert v. Beale Roofing, Inc.Court of Appeals of Georgia · 1981
- Citizens & Southern National Bank v. ArnoldSupreme Court of Georgia · 1977
- Third World, Ltd. No. II, Inc. v. Brewmasters of Augusta, Inc.Court of Appeals of Georgia · 1980
- First American Bank v. BishopSupreme Court of Georgia · 1977
3Cited by17 opinions
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- Moore v. McCalla Raymer, LLCDistrict Court, N.D. Georgia · 2013
- Coca-Cola Bottling Co. of Elizabethtown, Inc. v. Coca-Cola Co.District Court, D. Delaware · 1988
- Moore v. Bank of FitzgeraldCourt of Appeals of Georgia · 1997
- Taylor Auto Group, Inc. v. JessieCourt of Appeals of Georgia · 1999
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