Questions from Business Law

Q: James L. “Skip” Deupree, a developer, was

James L. “Skip” Deupree, a developer, was building a development of townhouses called Point South in Destin, Florida. All the townhouses in the development were to have individual boat slips. Sam and...

Q: Stewart P. Blanchard borrowed $50,000 from Progressive Bank

Stewart P. Blanchard borrowed $50,000 from Progressive Bank & Trust Company (Progressive) to purchase a home. As part of the transaction, Blanchard signed a note secured by a mortgage. The note provid...

Q: Samuel C. Mazilly wrote a personal check that was drawn on

Samuel C. Mazilly wrote a personal check that was drawn on Calcasieu-Marine National Bank of Lake Charles, Inc. (CMN Bank). The check was made payable to the order of Lee St. Mary and was delivered to...

Q: Conrad Schaneman Sr. had 8 sons and 5 daughters. He

Conrad Schaneman Sr. had 8 sons and 5 daughters. He owned an 80-acre farm in the Scottsbluff area of Nebraska. Conrad was born in Russia and could not read or write English. All of his children had fr...

Q: Judith and Donald Eckstein were married and had two daughters. Years

Judith and Donald Eckstein were married and had two daughters. Years later, Judith left the marital abode in the jointly owned Volkswagen van with only the clothes on her back. She did not take the ch...

Q: Fritz Hoffman and Fritz Frey contacted the Sun Valley Company (Company

Fritz Hoffman and Fritz Frey contacted the Sun Valley Company (Company) about purchasing a 1.64-acre piece of property known as the Ruud Mountain Property, located in Sun Valley, Idaho, from Company....

Q: David M. Fox was a distributor of tools manufactured and sold

David M. Fox was a distributor of tools manufactured and sold by Matco Tools Corporation (Matco). Cox purchased tools from Matco, using a credit line that he repaid as the tools were sold. The credit...

Q: Mr. Gennone maintained a checking account at Peoples National Bank &

Mr. Gennone maintained a checking account at Peoples National Bank & Trust Company of Pennsylvania (Bank). Gennone noticed that he was not receiving his bank statements and canceled checks. When Genno...

Q: Ironwood Exploration, Inc. (Ironwood) owned a lease on

Ironwood Exploration, Inc. (Ironwood) owned a lease on oil and gas property located in Duchesne County, Utah. Ironwood contracted to have Lantz Drilling and Exploration Company, Inc. (Lantz), drill an...

Q: Atlantic Ocean Kampgrounds, Inc. (Atlantic) borrowed $60

Atlantic Ocean Kampgrounds, Inc. (Atlantic) borrowed $60,000 from Camden National Bank (Camden National) and executed a note and mortgage on property located in Camden, Maine, securing that amount. Ma...