First National Bank in Creston v. Francis

WOLLE, Justice.

Plaintiff First National Bank in Crestón, Iowa, appeals from the district court’s order granting defendant Farmers Cooperative Company’s motion for summary judgment. The sole issue presented is whether the bank’s incorrect description of real estate on which encumbered crops would be found nevertheless imparted constructive notice to the cooperative of the claimed security interest. We affirm, concluding as did the trial court that the erroneous description was seriously misleading and insufficient to put the cooperative on notice of the bank’s claimed interest.

The bank loaned…