Daniel v. First National Bank of Birmingham

At appellees request, we make clear that it was the district courts findings of ultimate fact which we thought subject to review under the authorities collected in Galena Oaks Corp. v. Scofield, 5 Cir., 218 F.2d 217, 219, free from the restraint of the "clearly erroneous" rule. Appellee argues with much force that those findings resulted from inferences drawn by the district court as to the intention of the parties, and not from any "process of legal reasoning". We do not agree, though the separation is difficult, and if we are mistaken in that respect, nevertheless, the evidentiary facts being without dispute, this Court is in substantially as good position as was the district court to draw inferences and conclusions therefrom. See authorities cited in Benton v. Commissioner of Internal Revenue, 5 Cir., 197 F.2d 745, 753. In any event, on the entire evidence we are "left with the definite and firm conviction that a mistake has been committed." United States v. United States Gypsum Co., 333 U.S. 364, 395, 68 S. Ct. 525, 542, 92 L. Ed. 746.