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WILLIAMS v. FEDERAL LAND BANK OF JACKSON

No. 90-5064.

954 F.2d 774 (1992)

Kathleen Saunders WILLIAMS, Individually, and Katherine Saunders Williams, Executrix of the Estate of Elizabeth George Saunders, Deceased, Appellant, v. FEDERAL LAND BANK OF JACKSON, Federal Land Bank Association of Jackson, and Farm Credit System Assistance Board, Appellees.

United States Court of Appeals, District of Columbia Circuit.

Decided February 4, 1992.

Attorney(s) appearing for the Case

Preston Davis Rideout, Jr., for appellant. With him on the brief and supplemental brief was A. Lee Abraham, Jr. Gina L. Bardwell, Greenwood, Miss., also entered an appearance for appellant.

Matthew M. Collette, Atty., Dept. of Justice, Washington, D.C., for appellees. With him on the brief and supplemental brief for appellee Farm Credit System Assistance Bd. were Jay B. Stephens, U.S. Atty., and Anthony J. Steinmeyer, Atty., Dept. of Justice. Stewart A. Block, Washington, D.C., was on the brief and supplemental brief for appellees Federal Land Bank of Jackson and Federal Land Bank Ass'n of Jackson. Richard B. Dagen, Washington, D.C., also entered an appearance for appellees Federal Land Bank of Jackson and Federal Land Bank Ass'n of Jackson.

Before MIKVA, Chief Judge, and WILLIAMS and THOMAS, Circuit Judges.

Opinion for the Court filed by Circuit Judge WILLIAMS.

STEPHEN F. WILLIAMS, Circuit Judge:

In 1981 Katherine Saunders Williams and her mother, Elizabeth George Saunders, used Runnymede Plantation, their 1400-acre farm in Leflore County, Mississippi, as security for a loan of $1,309,000. They borrowed this sum through the Federal Land Bank Association of Greenwood (predecessor in interest to defendant Federal Land Bank Association of Jackson), which serviced...

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