(DOWNLOAD) "Provence v. Hilltop Nat. Bank" by Supreme Court of the United States " eBook PDF Kindle ePub Free
eBook details
- Title: Provence v. Hilltop Nat. Bank
- Author : Supreme Court of the United States
- Release Date : January 10, 1989
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 59 KB
Description
The Central Wyoming Livestock Exchange, Inc. of Glenrock, Wyoming (Livestock Exchange), a corporation in which Forrest W. and Shirley J. Provence (Provences) were major stockholders and personal secured guarantors by mortgage of their home, failed to repay the Hilltop National Bank (Hilltop Bank) loan. The Hilltop Bank assigned the collateral to the Small Business Administration (SBA) in utilization of the SBA 90% loan guarantee, following which the SBA called the loan and foreclosed including the individual Provence collateral which had been pledged for the business loan. Milton L. Keim (Keim) had, subsequent to the initial loan origination and closing, also executed a payment guarantee on the loan. After the foreclosure, the Provences sued the Hilltop Bank for monetary damages claiming negligence and breach of agreement for loss of - Page 991 their home when they were not given a mortgage release in exchange for the Keim guarantee which was provided. The district court granted summary judgment to the Hilltop Bank from which the Provences appeal.