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TALLY HO ASSOC. v. WORTH BANK & TRUST

No. 1-93-1442.

637 N.E.2d 705 (1994)

264 Ill.App.3d 957

202 Ill.Dec. 166

TALLY HO ASSOCIATES, INC., an Illinois corporation, Plaintiff-Appellant, v. WORTH BANK & TRUST COMPANY, an Illinois banking institution, Defendant-Appellee.

Appellate Court of Illinois, First District, Fourth Division.

June 30, 1994.

Attorney(s) appearing for the Case

DiSilvestro & Associates, Chicago (Robert J. DiSilvestro, of counsel), for appellant.

Barrett, Sramek & Jasinski, Palos Heights (Gerald J. Sramek & Bernadette Garrison Barrett, of counsel), for appellee.

Presiding Justice HOFFMAN delivered the opinion of the court:

The plaintiff, Tally Ho Associates, Inc. (Tally Ho), was assigned the beneficial interest of a land trust as collateral for an installment note, but Edward Halleran, the debtor on the note, retained the power of direction. The defendant, Worth Bank & Trust Company (Worth Bank), was the trustee of the land trust. Tally Ho appeals from a judgment entered after a bench trial in favor of Worth Bank on Tally...

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