(DOWNLOAD) "Gulf Chemical Employees Federal Credit" by Court of Appeals of Idaho No. 14772 # Book PDF Kindle ePub Free
eBook details
- Title: Gulf Chemical Employees Federal Credit
- Author : Court of Appeals of Idaho No. 14772
- Release Date : January 28, 1984
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 63 KB
Description
This lawsuit arises from a lender's failure to perfect its security interest in collateral. Gulf Chemical Employees Federal Credit Union made a loan to William Payne for the purpose of buying a used car from Rick Williams. The lender did not receive a document of title to the automobile. For that reason the lender was unable to perfect a security interest in the manner required by I.C. § 49-412. The borrower later defaulted on the loan and apparently disposed of the car. The frustrated lender filed this suit not only against the borrower but also against the seller upon a theory that both of them had breached a duty to deliver the title. The district court entered summary judgment, and awarded attorney fees, in favor of the seller. For reasons explained below, we affirm the judgment but set aside the district court's award of attorney fees. I