Quimbee logo
DMCA.com Protection Status
From our private database of 16,400+ case briefs...

Wansley v. First National Bank of Vicksburg

Supreme Court of Mississippi
566 So. 2d 1218 (1990)


Tom D. Wansley and Julian E. Wansley (plaintiffs) held as co-tenants 4,200 acres of farmland. The Wansleys received crop-production loans from the First National Bank of Vicksburg (the Bank) (defendant). In 1982, the Wansleys executed and delivered deeds of trust conveying their interests in the land to John C. Wheeless, Jr., as trustee, to secure their indebtedness to the Bank. The deeds of trust secured the Wansleys’ farm-related financing through the 1984 crop year. After the sale of the 1984 crops, the Wansleys were unable to pay a substantial portion of what they owed. The Bank directed Wheeless, as trustee, to foreclose and sell the land at public auction. At auction, the Bank bid $500,000 for each plaintiff’s interest in the land. Wheeless accepted the bids and conveyed the interests in the land to the Bank by trustee’s deeds. There was nothing in the record indicating that the sale prices were commercially unreasonable. The Wansleys filed a complaint in the Chancery Court of Sharkey County to cancel and set aside the trustee’s deeds. The Bank counterclaimed for confirmation of its titles in the land and for deficiency judgments for the amount of the Wansleys’ indebtedness over and above $500,000. The Chancery Court confirmed the Bank’s title, awarded the Bank deficiency judgments, and dismissed the Wansleys’ complaint. The Wansleys appealed to the Supreme Court of Mississippi, which held that the Bank’s failure to appoint a disinterested trustee rendered the sales voidable. The Bank petitioned for rehearing, and the Supreme Court of Mississippi granted the rehearing.

Rule of Law


Holding and Reasoning (Robertson, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 373,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 16,400 briefs, keyed to 223 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Questions & Answers

Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial