Federal Deposit Insurance Corporation v. Barness
484 F. Supp. 1134 (1980)
Nature of the Case
To access this section all you need to do is click here and register.
Facts
Barness (D) sought to avoid enforcement of a promissory note for $64,835 to Centennial Bank. The FDIC (P) came into possession of the note when the Centennial was taken over by regulators. D claimed he signed the note solely to aid Centennial in order to satisfy HUD's loan guaranty requirements for construction projects that the bank was financing. D was a major shareholder of Centennial. P contends that the Uniform Written Obligations Act has control over this situation. The note only contained a bare promise to pay.
Support@ bsmsphd.com
Casebriefs Co