SUNBELT SAV., FSB DALLAS, TEXAS v. MONTROSS

No. 90-1510.

923 F.2d 353 (1991)

SUNBELT SAVINGS, FSB DALLAS, TEXAS, Plaintiff-Appellee, v. George Michael MONTROSS, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

January 28, 1991.


Attorney(s) appearing for the Case

Marc S. Culp, Sheehan, Young & Culp, P.C., Dallas, Tex., for defendant-appellant.

John Edwards, Haynes & Boone, Dallas, Tex., for Sunbelt Savings, FSB.

Before GEE, REAVLEY, and SMITH, Circuit Judges.


GEE, Circuit Judge:

Today we decline to extend the federal holder in due course doctrine to protect the FDIC or its successors from the personal defenses of makers of non-negotiable promissory notes, holding that as a matter of federal common law the doctrine does not apply to non-negotiable instruments. Having announced this rule, we go on to conclude that the defendant did submit sufficient evidence to avoid summary judgment on his prevention of performance claim...

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