Question
Frank operated a grain warehouse in Lincoln, Nebraska. On the basis of grain warehouse receipts issued by Frank to Feng, the Lincoln First National Bank
Frank operated a grain warehouse in Lincoln, Nebraska. On the basis of grain warehouse receipts issued by Frank to Feng, the Lincoln First National Bank extended credit to Feng. Feng later became insolvent (v n). When the Bank sought to obtain from Frank the grain for which the receipt had been given to Feng, it discovered the grain had been sold by Frank. Frank claimed he had done so properly. The Bank genuinely disputed Frank's assertion. The officers of the Bank threatened an immediate action against Frank for damages unless he made a settlement. Frank made a settlement which he now desires to avoid on the ground of duress. Can Frank avoid it? Discuss.
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