Smith v. First Nat. Bank of Danville

Defendant, the First National Bank of Danville (the Bank), appeals from a judgment in favor of Judy Smith setting aside two promissory notes executed by Judy. We affirm.

I. Facts

A. Background

The Bank has been involved with Judy’s family for several generations. It was the trustee of a trust settled by Judy’s grandfather as well as of a trust settled by Judy’s mother. The Bank began lending money to Judy in the 1960’s. In 1970, Judy inherited farmland from her grandparents’ estate and hired the Bank to manage the property. In 1972 the Bank recommended Judy place the farmland in trust, referring…