Farmers & Merchants Bank v. Universal C.I.T. Credit Corp.

COWLEY, District Judge.

*415This is the second appeal in this case. The facts are set forth in detail in the first decision, Farmers and Merchants Bank v. Universal C. I. T. Credit Corporation, 4 Utah 2d 155, 289 P.2d 1045. Some of the facts will he repeated here and such other facts as are deemed necessary to this decision. In October, 1952, defendant corporation undertook to finance the operation of Harry Parsley, Inc., a Lincoln-Mercury dealer in Provo, Utah. It was orally agreed among the dealer, the plaintiff bank and the defendant finance company that Parsley would he permitted to deposit…