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FIRST UNITED BANK v. PHILMONT CORP.

No. 58933.

533 So.2d 449 (1988)

FIRST UNITED BANK v. PHILMONT CORPORATION d/b/a Oakhill Ranch and Country Club and Gary Montgomery.

Supreme Court of Mississippi.

Rehearing Denied November 30, 1988.

Attorney(s) appearing for the Case

M.D. Tate, II, Smith, Smith, Tate & Cruthird, Picayune, Anson B. Chunn, Chunn & Landrum, James L. Young, C. John Hedglin, Young, Scanlon & Sessums, Jackson, for appellant.

Robin L. Roberts, Lawrence C. Gunn, Jr., Hattiesburg, for appellee.

Before DAN M. LEE, P.J., and ROBERTSON and GRIFFIN, JJ.

I.

ROBERTSON, Justice, for the Court:

This appeal arises from a dispute between a bank and a merchant/customer regarding the actions of the bank in placing a "hold" or "freeze" on the merchant's bank account. After a one-day hearing, the Chancery Court issued an injunction which ordered the bank to allow the merchant access to seventy percent (70%) of the balance of the account.

The law of this case is that, absent agreement to the contrary, a customer...

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