Thompson v. First National Bank & Trust Co.

Banke, Judge.

The appellee brought suit against the appellant for the amount due on a note. The appellant defended on the grounds of equitable estoppel and accord and satisfaction. From a grant of the appellee’s motion for summary judgment, the appellant appeals.

The appellant was the vice president of Rivers & Horton Industries, Inc., hereinafter called "Rivers.” Rivers desired to purchase a block of its outstanding stock for the price of $100,000. In order to purchase the stock, Rivers began negotiations to borrow the money from the appellee bank, through which it had received extensive…