Legal Opinion
Commercial Trust & Savings Bank of Storm Lake v. Toy National Bank of Sioux City
Court of Appeals of Iowa
Decided June 25, 1985No. 84-1323PublishedCited by 8 opinions
1Opinion of the Court
OXBERGER, Chief Judge.
The defendant bank prevailed below in an action by the plaintiff bank to recover amounts due on a participating loan. The court found an oral promise to repay the full amount of the loan from plaintiff was unenforceable. We reverse and remand.
On December 31, 1981, an officer of Toy National Bank contacted the president of Commercial Trust and Savings Bank, James Tymeson. The officer, Stan Freder-icks, requested Commercial advance $300,-000 as a participation in a line of credit to one of its customers, Richard Tetherow. Toy needed to find another bank to participate in…
2Cases cited7 opinions
- Labor Discount Center, Inc. v. State Bank & Trust Co. of WellstonMissouri Court of Appeals · 1975
- Montgomery Properties Corp. v. Economy Forms Corp.Supreme Court of Iowa · 1981
- Tschirgi v. Merchants National Bank of Cedar RapidsSupreme Court of Iowa · 1962
- Golf View Realty Co. v. City of Sioux CitySupreme Court of Iowa · 1936
- S. Hanson Lumber Company v. De MossSupreme Court of Iowa · 1961
2 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Drovers Bank of Chicago v. National Bank and Trust Company of CharitonCourt of Appeals for the Eighth Circuit · 1987
- John T. Jones Construction Co. v. Hoot General ConstructionDistrict Court, S.D. Iowa · 2008
- Norwest Bank Des Moines, National Ass'n v. BruettCourt of Appeals of Iowa · 1988
- First Interstate Equipment Leasing of Iowa, Inc. v. FielderCourt of Appeals of Iowa · 1989
- Water Development Co. v. LankfordSupreme Court of Iowa · 1993
3 more not listed; retrieve them via the Exa API.