Arians v. Larkin Bank

The defendant-counterplaintiff, the Larkin Bank, appeals from the judgment of the circuit court of Kane County in favor of the plaintiffs-counterdefendants, Alice and Carl E. Arians, which declared rescinded a $57,875.43 note and accompanying trust deed held by the bank on their farm. The trial court denied the bank’s counterclaim for foreclosure on the Arianses’ mortgage and a personal deficiency judgment. We affirm.

The Arianses owned a farm in Kane County that they leased to their son, Michael, in 1973. Michael owned an auto body shop and farmed his parents’ land. Over a period of years,…