Legal Opinion
Federal Deposit Insurance Corp. v. Oehlert
Supreme Court of Iowa
Decided April 20, 1977No. 2-57794PublishedCited by 5 opinions
1Opinion of the Court
UHLENHOPP, Justice.
This appeal involves the liability to the Federal Deposit Insurance Corporation (FDIC) of a person on his promises to pay loans by a bank to borrowers who had already borrowed to their limits.
Eugene Schneider owned two truck lines called Payne and United, which were corporations. He and the truck lines had borrowed from State Bank of Prairie City to their limits but needed still additional funds. The idea was conceived of selling debentures of Payne to the public, in the total amount of $250,000. Defendant Robert Oehlert and Clayton Blue would undertake to sell the…
2Cases cited20 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Deitrick v. GreaneySupreme Court of the United States · 1940
- Federal Deposit Insurance Corporation, Etc., and v. Santino D. Meo, AndCourt of Appeals for the Ninth Circuit · 1974
- Mount Vernon Trust Co. v. BergoffNew York Court of Appeals · 1936
- Vallely v. DevaneyNorth Dakota Supreme Court · 1923
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3Cited by5 opinions
- Gallant v. Kanterman (In Re Kanterman)United States Bankruptcy Court, S.D. New York · 1989
- National Loan Investors, L.P. v. MartinSupreme Court of Iowa · 1992
- Federal Deposit Insurance Corp. v. HauptSupreme Court of Iowa · 1990
- Willow Tree Investments, Inc. v. WagnerSupreme Court of Iowa · 1990
- Philbin v. Federal Deposit InsuranceNew York Supreme Court · 1989