First National Bank of Logansport v. Logan Mfg. Co. (1991) Overview | LSData Case Brief Video Summar

The case is about a bank that had agreed to finance a business acquisition but later denied the loan request. The plaintiffs won the case in the lower court and were awarded damages, but the Court of Appeals reversed some of the damages. The Supreme Court rejected the argument of an enforceable oral contract but allowed the plaintiffs relief on the theory of promissory estoppel. The court then determined the appropriate measure of damages.
First National Bank of Logansport v. Logan Mfg. Co. (1991)
Supreme Court of Indiana
577 N.E.2d 949
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