Question
B sold and repaired trucks. He decided to build a truck repair facility in Bartonsville, Pennsylvania. B contacted U Bank (Bank) to obtain financing for
B sold and repaired trucks. He decided to build a truck repair facility in Bartonsville, Pennsylvania. B contacted U Bank (Bank) to obtain financing for the project and was referred to Z, an assistant vice president. Z orally agreed that U Bank would provide funding for the project He did not tell B that he only had express authority to make loans of up to $10,000. After extending $210,000 in loans to B, U Bank refused to provide further financing. When B defaulted on the loans, U Bank pressed judgment against B. U Bank sought to recover Bs assets in payment for the loan. B sued U Bank for damages for breach of contract.
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