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COMMERCIAL TRUST & SAV. BANK v. TOY NAT. BANK

No. 84-1323.

373 N.W.2d 521 (1985)

COMMERCIAL TRUST AND SAVINGS BANK OF STORM LAKE, Iowa, Plaintiff-Appellant, v. TOY NATIONAL BANK OF SIOUX CITY, Iowa, Defendant-Appellee.

Court of Appeals of Iowa.

June 25, 1985.

Attorney(s) appearing for the Case

Daniel C. Connell and John Duffy of Connell & Duffy, P.C., Storm Lake, for plaintiff-appellant.

Robert R. Eidsmoe and John D. Ackerman of Eidsmoe, Heidman, Redmond, Fredregill, Patterson & Schatz, Sioux City, for defendant-appellee.

Heard by OXBERGER, C.J., and DONIELSON, and SCHLEGEL, JJ.

OXBERGER, Chief Judge.

The defendant bank prevailed below in an action by the plaintiff bank to recover amounts due on a participating loan. The court found an oral promise to repay the full amount of the loan from plaintiff was unenforceable. We reverse and remand.

On December 31, 1981, an officer of Toy National Bank contacted the president of Commercial Trust and Savings Bank, James Tymeson. The officer, Stan Fredericks, requested Commercial advance $300...

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