Iola State Bank v. Bolan

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the bank failed to act in good faith and so it was not a good faith purchaser and its security interest did not attach against the sellers
• upholding $150,000 punitive damages award compared to $26,663.14 actual damages — 5.6 to 1 ratio
• stating rule in case involving cash sale of grain and dishonor of buyer’s check by seemed Bank
• finding bank had actual knowledge of purchaser’s methods and could not setoff his funds as they belonged to third parties
• upholding $150,000 punitive damages award compared to $26,663.14 actual damages

Source: CourtListener parenthetical corpus (CC0).