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Simple English definitions for legal terms

D'Oench Duhme doctrine

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A quick definition of D'Oench Duhme doctrine:

The D'Oench Duhme doctrine is a rule that says if a bank fails and a new bank takes over, the borrower cannot make a claim or defense against the new bank if it is based on a secret agreement or promise. The borrower can only make a claim if the agreement or promise was written down, signed by both the bank and the borrower, approved by the bank's board of directors, and kept as a permanent record by the bank. This rule was established by a court case in 1942 and is still partly used today.

A more thorough explanation:

The D'Oench Duhme doctrine is a legal rule that prevents a borrower from making a claim or defense against a federal successor to a failed financial institution if the claim or defense is based on a side or secret agreement or representation. This rule applies unless the agreements or representations have been:

  1. Put into writing
  2. Executed by the financial institution and borrower when the loan was issued
  3. Approved by the financial institution's board of directors or loan committee
  4. Made a permanent part of the financial institution's records

For example, if a borrower had an agreement with a failed bank that they would not have to pay back their loan if they lost their job, they cannot use this as a defense against a federal successor to the bank unless the agreement meets the four requirements listed above.

The D'Oench Duhme doctrine was established in the case of D'Oench, Duhme & Co. v. FDIC in 1942 and is now partially codified at 12 USCA § 1823(e). However, its standing has been questioned in light of the O'Melveny & Myers v. FDIC case in 1994.

Doe, John | do equity

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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