Diacou v. Palos State Bank

On September 29, 1966, the plaintiffs, Mr. and Mrs. Harry J. Diacou, filed a two-count complaint in the chancery division of the circuit court of Cook County. Each count alleged identical wrongful conduct on the part of the defendants. It was alleged that the defendant bank was given securities and real property to hold as collateral to secure a loan made to the plaintiffs. It was further alleged that all of the defendants made representations to the plaintiffs upon which the plaintiffs detrimentally relied and that the bank wrongfully sold some of the collateral. Count I of the complaint…