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FIRST WISCONSIN FINANCIAL CORP. v. YAMAGUCHI

No. 86-2088.

812 F.2d 370 (1987)

FIRST WISCONSIN FINANCIAL CORPORATION, Plaintiff-Appellant, v. Thomas YAMAGUCHI, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided February 24, 1987.

Attorney(s) appearing for the Case

Michael G. McCarty, Foley & Lardner, Milwaukee, Wis., for plaintiff-appellant.

Charles M. Biggam, Jr., Biggam, Cowan, Marquardt & Lunding, Chicago, Ill., for defendant-appellee.

Before CUMMINGS, CUDAHY and EASTERBROOK, Circuit Judges.

EASTERBROOK, Circuit Judge.

Tomkenco, Inc., borrowed money from First Wisconsin Financial Corp. against the security of Tomkenco's assets and receivables. The contract between Tomkenco and First Wisconsin created a "Loan Account Ledger". When Tomkenco presented First Wisconsin with evidence that it had sold goods and created receivables, First Wisconsin would advance 80% of the amount of the receivables. The ledger would be updated with a specific entry, identified...

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