Michael v. First Chicago Corp.

Plaintiffs, Richard and Cathleen Michael, appeal from a judgment at the close of their case in a bench trial in favor of defendant, First National Bank of Chicago (First Chicago), in a declaratory judgment action brought to determine whether the plaintiffs were entitled to possession and ownership of certificates of deposit they found in a locked file cabinet sold by First Chicago.

The issues for our review are (1) whether certain judicial admissions were made in First Chicago’s pleadings, and (2) whether the trial court’s granting of First Chicago’s motion for judgment at the close of…