Fed. Deposit Ins. Corp. v. Tyree – Case Brief Summary (Tennessee)

In Fed. Deposit Ins. Corp. v. Tyree, 698 S.W.2d 353, 354 (Tenn. Ct. App. 1985), the chairman of the nonprofit campaign committee "Tennesseans for Tyree" signed two promissory notes on behalf of the committee.

The Federal Deposit Insurance Corporation ("FDIC") later sought to collect on the notes and sued the candidate and the committee chairman, among others. Id.

The Court of Appeals of Tennessee reversed the grant of summary judgment to the candidate and chairman because there were disputed issues of material fact as to whether the candidate and the chairman had authorized the promissory note transactions and ratified the subsequent loans. Id. at 357.