White v. Production Credit Ass'n

A jury returned a verdict in favor of plaintiff for $100,000. Defendant appeals and we affirm.

Plaintiff is a cattle farmer who has been buying, raising, and selling feeder cattle since 1960. The business requires periodic financing to cover basic operating expenses and the purchase of cattle. Defendant is a federally-chartered lending institution.

In the fall of 1970, James Orr, a representative of defendant, represented to plaintiff that defendant could and would provide exclusive financial assistance to plaintiff. Plaintiff accepted Orr’s offer, submitted a financial statement and a loan…