The First Bank of Grantsburg v. The Harris Banking Company of Harris, Missouri, Now Citizens Bank of Newton

HEANEY, Circuit Judge.

The Grantsburg Bank obtained a money judgment against the Harris Bank in 1975. At that time, the banks entered into a written agreement not to execute upon the judgment. In 1980, however, Grantsburg commenced execution on its judgment, contending that Harris Bank had breached the agreement. The district court permanently stayed such execution. We reverse.

Grantsburg Bank brought a federal court action in 1972 against Harris Bank, arising out of a conversion of monies that was alleged to have occurred in 1969. 1 In 1970, however, the ownership of Harris Bank had changed…