(DOWNLOAD) "Colonial Leasing Company New England V." by Court of Appeals of Utah * Book PDF Kindle ePub Free

eBook details

Title: Colonial Leasing Company New England V.
Author : Court of Appeals of Utah
Release Date : January 22, 1986
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 67 KB

Description

Plaintiff Colonial leasing Company transferred possession of a heavy piece of construction equipment called a crawler-loader to defendant Michael Ray Larsen pursuant to a document called a "lease." Larsen defaulted on the payments required by that document, and the plaintiff sued for damages. The trial court granted Colonial Leasing summary judgment on its claim for $27,716.10, the amount due under the document, less the proceeds of a sale of the equipment after plaintiffs repossession, plus costs and attorney fees. On appeal, Larsen argues that the document was a security agreement subject to the filing requirements of Article 9 of the Uniform Commercial Code. Since Colonial failed to comply with Article 9 requirements in disposing of the collateral, Larsen contends that Colonial was therefore precluded from recovering a deficiency judgment. In granting summary judgment, the trial court stated in a minute entry: "Affidavits are not admissible and are barred by statute." We reverse and remand for further proceedings.