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GREENWOOD v. BANK OF ILLMO

No. 16208.

782 S.W.2d 783 (1989)

Tonya GREENWOOD and Mary Ellen Keene, as Next Friend for Jay Greenwood, a Minor, and Mary Ellen Keene, Individually, Plaintiffs-Respondents, v. BANK OF ILLMO, a Banking Corporation, Defendant-Appellant.

Missouri Court of Appeals, Southern District, Division Two.

Motion for Rehearing or to Transfer Denied January 5, 1990.

Application to Transfer Denied February 13, 1990.

Attorney(s) appearing for the Case

Albert C. Lowes, Lowes & Drusch, Cape Girardeau, for defendant-appellant.

Jim S. Green, Sikeston, for plaintiffs-respondents.

FLANIGAN, Presiding Judge.

The basic issue is whether a bank, which issued a certificate of deposit ("CD") jointly to A, B, and C, may, on the maturity of the CD, set off its proceeds against A's delinquent note held by the bank when B and C furnished the money for the CD. This court, on the facts at bar, answers the question in the negative.

On October 23, 1981, Bank of Illmo, defendant below and appellant here...

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