Cadle Company v. Patoine Brief Case

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Case 
Brief Case 
Title: Cadle Company v. Patoine    
Venue:   Supreme Court 
Case Brief: Patoine, a co-signer on a defaulted promissory note, happened to have been 
sold to Cadle Company by the Federal Deposit Insurance Corporation (FDIC),. As the 
promissory note was defaulted, it could not be sold. Patoine had wrongly signed a defaulted 
promissory note and this had caused trouble to Cadle company. As an authroity of FDIC, Patoine 
was obliged to make good the losses to Cadle Company and take back the promissory note and 
no losses be passed on to Cadle Company. It is a case of faulty securitization. 
Rule of law:

Cadle Company v. Patoine Brief Case

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