1. In its opinion, the court pointed out that the duty to act in good faith does...
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2. If National City had demanded “ payment of the line” instead of just indicating that there was a possibility it might do so in the future, would the outcome of this case have been any different? Explain.
3. Why might a creditor such as National City Bank prefer a note that is payable on demand?
4. Why might a debtor such as Reger Development agree to a note that includes a term making it payable on demand?
Plaintiff-appellant Reger Development, LLC * * * is an Illinois limited liability company involved in real estate development. Kevin Reger is Reger Development’s principal and sole member. Defendant- appellee National City Bank * * * had lent money to Reger Development for several previous projects.
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Business Law Text and Cases
ISBN: 978-1285185248
13th edition
Authors: Kenneth Clarkson, Roger LeRoy Miller, Frank Cross
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