Robbed By Your Employees…is the name of an article cited by the appellate court in this opinion. In this case, a corporation’s accounting manager stole some of the incoming checks and took them to a check cashing service, forging the signature of a company officer and receiving hard cash. The corporation’s recoupment effort included suing […]
Refusing To Step Aside And Seizing A Letter Of Credit A Landlord, Whose Lease With A Bank Was Disaffirmed By FDIC In A Bank Takeover, Has To Return Asset And Is Now On Hook For Attorney Fees.
In an imminent bank takeover, the Federal Deposit Insurance Corporation [FDIC] sold the assets of a failed bank to a takeover bank. Among the assets was a $500,000 letter of credit which had been demanded by the failed bank’s landlord to cover any future rents. As part of the takeover, the FDIC disaffirmed the failed bank’s […]
Court Erred In Finding A Lack Of Mutual Assent.
A commodities merchandiser entered into 12 contracts. It sued the buyer alleging it failed to accept and pay for some of the merchandise. After a bench trial, the court found there was no mutual assent for lack of certain contract terms. Judgment was entered for the buyer. The Court of Appeal reversed, stating in part: “The […]
Court Erred In Finding A Lack Of Mutual Assent.
A commodities merchandiser entered into 12 contracts. It sued the buyer alleging it failed to accept and pay for some of the merchandise. After a bench trial, the court found there was no mutual assent for lack of certain contract terms. Judgment was entered for the buyer. The Court of Appeal reversed, stating in part: […]