PEOPLES BANK OF VIRGIN ISLANDS v. FIGUEROA

No. 76-2672.

559 F.2d 914 (1977)

PEOPLES BANK OF the VIRGIN ISLANDS v. Jose FIGUEROA, Monserrate Garcia, and Wook Suh. Appeal of FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver for Peoples Bank of the Virgin Islands.

United States Court of Appeals, Third Circuit.

Decided July 20, 1977.


Attorney(s) appearing for the Case

Jean-Robert Alfred, Christiansted, St. Croix, V.I., for appellant.

John B. Nichols, Christiansted, St. Croix, V.I., for appellees Wook Suh and Figueroa.

John D. Merwin, Merwin, Alexander & O'Brien, Frederiksted, St. Croix, V.I., for appellee Monserrate Garcia.

Before VAN DUSEN, WEIS and GARTH, Circuit Judges.


OPINION OF THE COURT

GARTH, Circuit Judge.

This appeal involves the liability of two accommodation endorsers of a note rendered otherwise valueless by its maker's default and subsequent disappearance from his Virgin Islands home. The district court held that fraud by the holder-bank1 and unlawful conduct by one of its directors sufficed to discharge the endorsers from their obligation as sureties. We reverse.

I.

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases