Farm Credit Services of America, FLCA, et al. v. Haun, et al., No. 12-3077, 2013 U.S.App. LEXIS 17271 (8th Cir. Aug. 20, 2013)

(defendants operate cattle company and cattle company executed various promissory notes and loan agreements with plaintiff under which plaintiff reserved right to inspect cattle herds pledged as collateral; cattle company employee stole cattle and defendant didn’t pay notes and loans upon maturity, subsequently filing bankruptcy; defendants also made personal guarantees and plaintiff sought to enforce guarantees; defendants counterclaimed for negligence, negligent misrepresentations, and breach of the duty of good faith and fair dealing and basis that defendants negligently inspected loan collateral and provided appellants with inaccurate reports on status of loan collateral and provided inaccurate reports on status of loan collateral and failed to remove employee from company’s line of credit; trial court granted plaintiff’s motioned to dismiss and gave defendant’s opportunity to file amended counterclaims; counterclaims refilled and court dismissed with prejudice; on appeal, court held that plaintiff owed no duty to defendant to report on status of loan collateral; no negligent misrepresentation because defendant didn’t prove plaintiff intended that defendant rely on alleged misrepresentations; no breach of duty of good faith and fair dealing because no damages proven; trial court decision affirmed).