Finn v. Heritage Bank & Trust Co.

PRESIDING JUSTICE STOUDER

delivered the opinion of the court:

Plaintiff Richard Finn filed suit against the defendant Heritage Bank and Trust Company, Inc. (Heritage), seeking relief from a guaranty Finn signed on a bank loan made by Heritage to Finn’s cousin. The trial court entered judgment in favor of Finn, declaring the plaintiff’s guaranty null and void.

On appeal Heritage argues the trial court erred in finding there was no consideration for Finn’s guarantees for his cousin’s loans. Heritage also contends the doctrine of promissory estoppel precluded Finn’s rescission, and that Finn’s…