Bank of Houston v. Action Land & Cattle Co.

Action Land and Cattle Company, Inc. (“Action Land”) appeals from the trial court’s entry of summary judgment for Bank of Houston (“Bank”) on Bank’s suit to enforce two promissory notes. Action Land claims the trial court erred in entering summary judgment for Bank because the contracts which created the promissory notes were illegal and unenforceable under Section 362.170, which sets the lending limits for financial institutions in Missouri, and Section 362.171, which criminalizes the actions of certain banking officials and employees who participate in making such loans.1 Action Land’s…