Idaho Bank & Trust Co. v. First Bancorp of Idaho

772 P.2d 720 (1989)

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Idaho Bank & Trust Co. v. First Bancorp of Idaho

Idaho Supreme Court
772 P.2d 720 (1989)

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Facts

Main Hurdman (defendant), a certified public accountant, conducted an audit of First Bank & Trust’s financial statements. First Bancorp of Idaho (Bancorp) (defendant) subsequently bought out and gained control of First Bank & Trust. Bancorp obtained a loan from Idaho Bank & Trust Co. (Idaho Bank) (plaintiff) using the report prepared by Hurdman for First Bank & Trust. Bancorp defaulted on the loan payments to Idaho Bank. Idaho Bank brought suit against Hurdman for negligence in conducting the audit, and against Bancorp for other claims. The trial court dismissed Hurdman as a party, and Idaho Bank appealed.

Rule of Law

Issue

Holding and Reasoning (Shepard, C.J.)

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