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YAMADA v. GERING NAT. BANK & TRUST CO.

No. S-90-1017.

497 N.W.2d 1 (1993)

242 Neb. 834

Kay YAMADA and Lois T. Yamada, Husband and Wife, Appellants, v. GERING NATIONAL BANK & TRUST COMPANY, a Corporation, and Federal Deposit Insurance Corporation, a Corporation, as Receiver for Gering National Bank & Trust Company, Appellees, and Federal Deposit Insurance Corporation, in its Corporate Capacity, Intervenor-Appellee.

Supreme Court of Nebraska.

March 12, 1993.

Attorney(s) appearing for the Case

Richard Scott of Watkins-Scott-Hoppe, Lincoln, for appellants.

Chip Lowe and Burns H. Davison, III of Adams, Howe & Zoss, P.C., Des Moines, IA, for appellee and intervenor-appellee FDIC.

HASTINGS, C.J., and BOSLAUGH, WHITE, CAPORALE, SHANAHAN, FAHRNBRUCH, and LANPHIER, JJ.

LANPHIER, Judge.

The Yamadas filed a petition in equity to rescind a written agreement between themselves and the defendant Gering National Bank, (hereinafter, the bank). The agreement is essentially a stipulation to allow the bank to foreclose certain real estate and for the bank to lend funds in its discretion for a cattle operation on the foreclosed real estate to be leased back to the plaintiffs' son, Ken. The plaintiffs claim the agreement was breached. Plaintiffs...

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