[DOWNLOAD] "James N. v. Federal Deposit Insurance Corp." by United States Court of Appeals for the Fifth Circuit ~ Book PDF Kindle ePub Free
eBook details
- Title: James N. v. Federal Deposit Insurance Corp.
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 31, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
The Federal Deposit Insurance Corporation (the "FDIC" or "Corporation"), as receiver for First RepublicBank -- El Paso ("the Bank"), appeals from a $403,793 judgment in favor of James and Betty Bowen. The Bowens allege that the Bank reneged on a loan officers oral promise to extend a loan to their firm, Bowen Industries, Inc. ("BII"). As a result of the Banks failure to make the loan, which was intended to enable BII to pay delinquent payroll taxes, the IRS assessed the Bowens personally, leading to the damages they claim here. The Bowens claims against the Bank are premised on promissory estoppel; breach of fiduciary duty and the duty of good faith and fair dealing; and constructive fraud. We find that the claims are defeated by the DOench, Duhme doctrine, which bars the use of unrecorded agreements as the basis for claims or defenses against the FDIC. Accordingly, we reverse, and render judgment for the FDIC.