Benskin, Inc. v. West Bank

CourtSupreme Court of Iowa
DecidedDecember 23, 2020
Docket18-1966
StatusPublished

This text of Benskin, Inc. v. West Bank (Benskin, Inc. v. West Bank) is published on Counsel Stack Legal Research, covering Supreme Court of Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Benskin, Inc. v. West Bank, (iowa 2020).

Opinion

IN THE SUPREME COURT OF IOWA No. 18–1966

Submitted November 18, 2020—Filed December 23, 2020

BENSKIN, INC.,

Appellant,

vs.

WEST BANK,

Appellee.

On review from the Iowa Court of Appeals.

Appeal from the Iowa District Court for Polk County, Samantha J.

Gronewald, Judge.

Defendant Bank seeks further review of court of appeals decision

reversing order granting motion to dismiss. DECISION OF COURT OF

APPEALS AFFIRMED IN PART AND VACATED IN PART; DISTRICT

COURT JUDGMENT AFFIRMED IN PART, REVERSED IN PART, AND

CASE REMANDED.

Waterman, J., delivered the opinion of the court, in which all

participating justices joined. McDermott, J., took no part in the

consideration or decision of the case.

Steven P. DeVolder (argued) of DeVolder Law Firm, P.L.L.C.,

Norwalk, and William W. Graham of Duncan Green, P.C., Des Moines, for

appellant. 2

Dennis P. Ogden (argued) and Thomas L. Flynn of Brick Gentry,

P.C., West Des Moines, for appellee. 3

WATERMAN, Justice.

Motions to dismiss are disfavored. Iowa is a notice pleading state.

Lawyers should exercise “professional patience” and challenge vulnerable

cases by summary judgment or at trial instead of through “premature

attacks on litigation by motions to dismiss.” Cutler v. Klass, Whicher &

Mishne, 473 N.W.2d 178, 181 (Iowa 1991). The court of appeals took such

admonitions to heart and reversed the district court’s ruling granting a

bank’s motion to dismiss its debtor’s pleadings, alleging breach of

contract, breach of the implied duties of good faith and fair dealing, fraud,

and slander of title. The district court, examining the four corners of the

debtor’s amended petition, had ruled that the contract and fraud claims

were time-barred, rejected the debtor’s discovery rule and equitable

estoppel arguments, and ruled the slander-of-title count failed to allege

the element of publication to a third party. The court of appeals applied

equitable estoppel to avoid the time-bar and held the slander-of-title count

was adequately pled. We granted the bank’s application for further review.

On our review, we determine that the district court correctly

dismissed this case on the pleadings, except for slander of title. We accept

as true the debtor’s factual allegations. The bank’s alleged wrongdoing—

failure to release encumbrances—took place in 2008, and the debtor

admittedly learned of the bank’s refusal by June 27, 2011, well within the

statute of limitations period. The contract and good-faith claims are

subject to a seven-year statute of limitations with no discovery rule and

that period expired in 2015. The fraud claim is governed by a five-year

statute of limitations with a discovery rule and that period expired in 2016.

The debtor did not file this lawsuit until May 18, 2018. Those claims are

time-barred and the equitable estoppel argument fails as a matter of law.

We agree with the court of appeals that slander of title was adequately 4

alleged. Recording statutes provide notice to the public and a wrongful

encumbrance on real estate is thereby “published.” For the reasons

explained more fully below, we vacate the decision of the court of appeals

in part and affirm the district court’s judgment dismissing all claims

except slander of title, which we reinstate.

I. Background Facts and Proceedings.

According to the amended petition, on October 6, 2006, Benskin,

Inc. entered into a written loan agreement with West Bank to borrow

$800,094. The loan was secured by guarantees from Martin and Susan

Benskin and a real estate mortgage on the corporation’s property in

Dickinson County. The terms of the loan were set forth in a promissory

note (the 2006 promissory note), loan guarantees, and a real estate

mortgage. The 2006 loan was renewed in a promissory note dated

August 1, 2007, with a maturity date of August 1, 2008.

On October 24, 2007, Benskin entered into a separate agreement

for a line of credit (the 2007 line of credit) with West Bank for up to

$2 million to purchase land for development. The terms were set forth in

a promissory note again secured by guarantees from Martin and Susan

Benskin and mortgages on the Dickinson County land and this time on

real estate Benskin owned in Polk County (the 2007 mortgages). Benskin

never borrowed against the line of credit. On May 30, 2008, the 2007

promissory note and mortgages matured. “On and after that date,

West Bank was obligated to release the 2007 Mortgages.” Benskin alleged,

10. At various times after May 30, 2008, West Bank, through its officers and employees, made multiple representations, now known to have been false, that it would take the steps necessary to release the 2007 Mortgages. 11. Despite its obligation to release the 2007 Mortgages, and contrary to its representations and promises to do so, West Bank failed and refused to release the 2007 5 Mortgages, even after repeated requests and demands from Plaintiff. 12. Defendant’s first express statement to Plaintiff refusing to release the 2007 Mortgages was on June 27, 2011. At least until that date, West Bank intentionally misled Plaintiff by making . . . false statements and promises leading Plaintiff to believe that West Bank was going to release the 2007 Mortgages and was taking procedural steps to do so.

On July 22, 2016, during the course of other litigation, Benskin further

alleged it

learned information indicating that at some time after the creation of the 2007 Line of Credit, West Bank internally altered its records so as to purport to show an unauthorized advance under the 2007 Line of Credit to pay off, before it was due, the 2006 Promissory Note. That action was wrongfully concealed by West Bank and was taken by West Bank without Plaintiff’s agreement, consent, or knowledge and was not discovered by Plaintiff until after July 22, 2016.

The alleged misuse of the line of credit occurred in 2008. Benskin’s

property remained encumbered by the 2007 mortgages.

On May 18, 2018, Benskin sued West Bank in a three-count petition

alleging breach of (I) the 2007 contracts, (II) the 2006 promissory note, and

(III) the implied duties of good faith and fair dealing. West Bank filed a

motion to dismiss on grounds that the seven-year statute of limitations in

Iowa Code section 524.221(2) (2018) barred all claims. Benskin responded by amending its petition to add count IV, alleging fraud, and count V,

alleging slander of title. West Bank withdrew its initial motion and filed a

new motion to dismiss, arguing section 524.221(2) barred counts I–III,

section 614.1(4) (five-year statute of limitations for fraud) barred counts

IV and V, and count V failed to state a claim upon which relief could be

granted because no publication to a third party was alleged. Benskin filed

a resistance that argued for the ten-year statute of limitations in section

614.1(5) and further argued that the discovery rule or equitable estoppel 6

avoided the limitations defense and the 2007 mortgage encumbrances as

public filings satisfied the publication element for the slander of title.

The district court granted West Bank’s motion to dismiss all claims.

The court ruled that equitable estoppel can apply to breach of contract

claims but determined that Benskin failed to allege a “specific statement

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