Langley v. Federal Deposit Insurance (1987) Overview | LSData Case Brief Video Summary

The Langley couple is disputing a decision made by the Fifth Circuit Court of Appeals that granted summary judgment to the FDIC on their claim for payment of a promissory note. The FDIC had funded a purchase and assumption transaction, paying the Langleys’ March 1982 note and receiving other assets. The Langleys are arguing that fraud in the inducement, even if not expressly promised, is not barred by 12 U.S.C. § 1823(e). The Fifth Circuit court disagreed, stating that the word “agreement” in Section 1823(e) includes material terms or warranties claimed by the Langleys in their misrepresentation defenses.

Langley v. Federal Deposit Insurance (1987)
Supreme Court of the United States
484 U.S. 86, 98 L. Ed. 2d 340, 108 S. Ct. 396, SCDB 1987-008, 1987 U.S. LEXIS 5029

Learn more about this case at https://www.lsd.law/briefs/view/langley-v-federal-deposit-insurance-100672796

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