VOL. 111 | NO. 70 | Thursday, April 10, 1997
First Commercial Bank N
First Commercial Bank N.A. of Memphis vs. George B. Hitt, Fox Telcom Inc. and Lee L. Elmore. According to the suit, Fox opened a checking account with United American Bank on Dec. 10 upon Hitt executing a contract on Foxs behalf. In conjunction with opening the account, Fox submitted the Certified Resolutions of the Board of Directors that UAB relied on in agreeing to open the account, according to the suit. First Commercial Bank succeeded to the contract upon its merger with UAB on March 1. The plaintiff alleges that by March 19, FCB had honored and paid checks drawn against Foxs account and thereby extended more than $30,000 credit to Fox. The plaintiff alleges it has demanded payment but that Fox has refused and is in breach of contract. The plaintiff alleges Hitt has used his control of Fox to perpetuate failure to repay the extended credit and that Elmore delivered checks to Fox drawn on his personal accounts with other banks. The plaintiff alleges the Fox checks were written in reliance on Elmores misrepresentation that the Elmore checks were written on accounts that contained funds adequate to cover them. The plaintiff is suing Hitt and Fox for breach of contract and Elmore for tortious misrepresentation. The plaintiff is seeking an amount no less than the $30,328.98 it claims it is owed. The attorneys for the plaintiff are Paul P. Perry and Richard J. Myers.