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Kilpatrick v. Citibanc of Alabama/Andalusia
Citations: 494 So. 2d 39; 1986 Ala. LEXIS 3665Docket: 84-1032
Court: Supreme Court of Alabama; July 25, 1986; Alabama; State Supreme Court
The case involves a fraud action brought by plaintiff Tyson Kilpatrick against Citibanc of Alabama/Andalusia and its officer Jimmy Kirkland. Kilpatrick alleges that Kirkland falsely assured him that signing mortgages would not result in the loss of his property, suggesting they were merely formalities for the bank's benefit. The trial court granted summary judgment in favor of the defendants, stating that the key facts are undisputed. Kilpatrick and a partner applied for a loan to finance their partnership, providing the bank with descriptions and title opinions of their real estate, which was to be used as collateral. He executed notes and mortgages pledging his real estate in connection with the loan, which amounted to $17,038.50. The court concluded that Kilpatrick could not have reasonably relied on Kirkland's alleged misrepresentation, determining there was no genuine issue of material fact regarding reliance on any misrepresentation. Citing relevant case law, the court affirmed that Kilpatrick's reliance would not be reasonable enough to establish fraud. The judgment was affirmed with concurrence from the Chief Justice and other justices.