Legal Question in Banking Law in Missouri

Bank's breach of loan agreement terms

My Bank refused my payment to reduce the balance

of a business loan. The contract was a revolving

line of credit with provisions to pay it down

and reborrow funds during a one year period

at my option.

Instead, the Bank ignored the plain language of

the agreement, and actually denied the terms.

I consider this a fundamental ''breach'' and

wonder whether case law holds that I am relieved

of any further performance thereunder - i.e.,

what are my rights and the corresponding penalties

against the bank.

Missouri falls within the 8th Cir. Court of Appeals

or does State law, or the Comptroller of the Currency

use ''administrative'' law cases to support my possible

remedies ?

1 Answer from Attorneys

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