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EXCHANGE NAT. BANK OF CHICAGO v. DANIELS

Nos. 84-2037, 84-2232 and 84-2737.

763 F.2d 286 (1985)

EXCHANGE NATIONAL BANK OF CHICAGO, Plaintiff-Appellee, v. Harold DANIELS and Irene Daniels, Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided May 29, 1985.

Rehearing Granted July 12, 1985.

Rehearing Denied July 12, 1985.

Rehearing Denied July 12, 1985.

Attorney(s) appearing for the Case

Narcisse A. Brown, Schwartz, Cooper, Kolb & Gaynor, Chtd., Chicago, Ill., for plaintiff-appellee.

James B. Burns, Isham, Lincoln & Beale, Chicago, Ill., for defendants-appellants.

Before WOOD and EASTERBROOK, Circuit Judges, and DUMBAULD, Senior District Judge.

Rehearing Granted July 12, 1985 in No. 84-2037.

Rehearing Denied July 12, 1985 in Nos. 84-2232 and 84-2737.

Rehearing En Banc Denied July 12, 1985.

EASTERBROOK, Circuit Judge.

Harold Daniels is the maker of a $4.5 million note, which his wife Irene Daniels guaranteed. The Danielses (the Borrowers) have a cattle business in New Mexico. They borrowed the money from Exchange National Bank (the Bank) over several years. They used the money to finance...

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