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FEDERAL DEPOSIT INS. CORP. v. LANGLEY

No. 85-4738.

792 F.2d 547 (1986)

FEDERAL DEPOSIT INSURANCE CORPORATION, et al., Plaintiffs-Appellees, v. W.T. LANGLEY and Mary Ann Grimes Langley, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

June 25, 1986.

Attorney(s) appearing for the Case

William C. Shockey, Thomas D. Fazio, Baton Rouge, La., for defendants-appellants.

David S. Rubin, Baton Rouge, La., for plaintiffs-appellees.

W. Shelby McKenzie, Baton Rouge, La., for Fed. Land Bank of Jackson.

Before WISDOM, REAVLEY, and JOHNSON, Circuit Judges.

JOHNSON, Circuit Judge:

W.T. and Mary Ann Grimes Langley (the "Langleys") appeal from the district court's final judgment, pursuant to Fed.R.Civ.P. 54(b), in favor of the Federal Land Bank of Jackson ("FLBJ"). The district court held that the FLBJ is not bound by the misrepresentations and omissions of the president of a Federal Land Bank Association ("FLBA" or "Association"). The Langleys allege that they borrowed money from FLBJ, based on the misrepresentations...

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