Rcb Bank v. Stitt

Summary

The Oklahoma Supreme Court held that RCB Bank could not foreclose the Tulsa County mortgages because the underlying promissory notes had been reduced to a judgment, extinguishing the contract-based cause of action and rendering the statute of limitations expired; 12 O.S. §101 does not revive a claim once the note merges into a judgment. The Court reversed the lower court and remanded for entry of judgment in favor of the Stitts.