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DAVENPORT BANK & TR. v. STATE CENT. BANK

No. 90-1733.

485 N.W.2d 476 (1992)

DAVENPORT BANK AND TRUST COMPANY, Appellee, v. STATE CENTRAL BANK, Appellant.

Supreme Court of Iowa.

May 13, 1992.

Attorney(s) appearing for the Case

Patrick M. Roby and Diane Kutzko of Shuttleworth & Ingersoll, P.C., Cedar Rapids, for appellant.

Robert V.P. Waterman and Terry M. Giebelstein of Lane & Waterman, Davenport, for appellee.

Considered en banc.

SCHULTZ, Justice.

Davenport Bank and Trust Company (Davenport Bank) brought this action against State Central Bank (State Central) alleging breach of an alleged accord and satisfaction agreement between the two banks. The alleged agreement settled a dispute over the terms of participation agreements involving loans to a farm corporation. The loans went bad and the banks dispute the entitlement to $241,429.19 in proceeds from liquidation of the debtor's assets. Following...

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