Court of Appeals for the Fifth Circuit June 25, 1986, 85-4738 (Federal Deposit Insurance Corporation v. W.T. Langley and Mary Ann Grimes Langley)

JOHNSON, Circuit Judge:

W.T. and Mary Ann Grimes Langley (the “Langleys”) appeal from the district court’s final judgment, pursuant to Fed.R. Civ.P. 54(b), in favor of the Federal Land Bank of Jackson (“FLBJ”). The district court held that the FLBJ is not bound by the misrepresentations and omissions of the president of a Federal Land Bank Association (“FLBA” or “Association”).