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ADAM v. MT. PLEASANT BANK & TRUST CO.

No. 69291.

355 N.W.2d 868 (1984)

Robert D. ADAM, et al., Appellants, v. MT. PLEASANT BANK & TRUST CO., et al., and Blake Phelps, Appellee.

Supreme Court of Iowa.

Rehearing Denied October 15, 1984.

Attorney(s) appearing for the Case

James P. Hoffman, Keokuk, and James Walker, Bloomington, Ill., for appellants.

G.R. Krekel of Hirsch, Link, Adams, Hoth & Krekel, Burlington, for appellee.

Considered by REYNOLDSON, C.J., and UHLENHOPP, HARRIS, LARSON, and SCHULTZ, JJ.

HARRIS, Justice.

We granted further review of a decision of the court of appeals which reversed a partial summary judgment entered by the trial court in favor of defendant Blake Phelps. The facts were well stated by the court of appeals:

The case arose out of the financial collapse of the Prairie Grain Company at Stockport, a company of which Phelps was an officer. Plaintiffs are farmers who had stored grain at the elevator and were unable to obtain its return...

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