D'Oench doctrine

noun

ˈdench-

: a doctrine in banking law: a party (as a borrower or guarantor) cannot assert an unrecorded agreement with a failed bank against attempts by the federal insurer (as the Federal Deposit Insurance Corporation) or its assigns to collect on a promissory note (as a loan)

called also D'Oench Duhme doctrine

Word History

Etymology

from D'Oench, Duhme & Co., Inc. v. Federal Deposit Insurance Company, 315 U.S. 447 (1942), the Supreme Court case establishing the doctrine