PALETTA v. MERCANTILE BANK, N.A.

No. 64158.

889 S.W.2d 58 (1994)

Victor L. PALETTA and Samuel J. Huffmaster, Plaintiffs/Respondents, v. MERCANTILE BANK, N.A., and Michiko I. Branham, Defendants/Appellants.

Missouri Court of Appeals, Eastern District, Division Three.

Motion for Rehearing and/or Transfer Denied November 21, 1994.

Application to Transfer Denied January 24, 1995.


Attorney(s) appearing for the Case

Scott E. Schonbrun, Clayton, for appellants.

Ernest L. Keathley, Jr., St. Louis, for respondents.


Motion for Rehearing and/or Transfer to Supreme Court Denied November 21, 1994.

PUDLOWSKI, Judge.

This is an appeal from a judgment in favor of two investors who were constructively defrauded of their investments by a friend who had invested and managed their savings for them. The original agreement was oral. The trial court found: the Statute of Frauds does not apply to this action because of the investor's confidential relationship with their friend as their...

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