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FEDERAL DEPOSIT INSURANCE CORP. v. MEO

No. 73-2100.

505 F.2d 790 (1974)

FEDERAL DEPOSIT INSURANCE CORPORATION, etc., Plaintiff and Appellee, v. Santino D. MEO, Defendant and Appellant.

United States Court of Appeals, Ninth Circuit.

October 21, 1974.

Attorney(s) appearing for the Case

Sidney F. DeGoff (argued), of Field, DeGoff, Huppert & MacGowan, San Francisco, Cal., for defendant-appellant.

Charles A. Legge (argued), of Bronson, Bronson & McKinnon, San Francisco, Cal., for plaintiff-appellee.

Before MERRILL, KILKENNY and CHOY, Circuit Judges.

OPINION

CHOY, Circuit Judge:

Meo appeals from a judgment of the district court holding him liable on a promissory note he, as maker, gave to a now-closed national bank. We reverse.

Statement of Facts

In December, 1962 Meo and three associates executed a promissory note to San Francisco National Bank ("SFNB") to enable them to acquire 1000 shares of SFNB's common stock. Instead of properly executing the order SFNB directed its brokers...

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