Legal Opinion
Bombardier Capital, Inc. v. Key Bank of Maine
Supreme Judicial Court of Maine
Decided April 8, 1994PublishedCited by 6 opinions
1Opinion of the Court
WATHEN, Chief Justice.
Defendant Key Bank of Maine (the “Bank”) appeals from a summary judgment entered in favor of plaintiff Bombardier Capital, Inc. (“Bombardier”) in the Superior Court (Kennebec County, Chandler, J.). The court ruled that the Bank converted Bombardier’s funds and assessed damages of $45,-073.84. Both parties have a security interest in proceeds deposited in a commingled checking account. At issue is the measure of Bombardier’s damages for a wrongful setoff by the Bank. The Bank contends that the court erred by refusing to apply the “lowest intermediate balance rule” on a…
2Cases cited12 opinions
- Tuttle v. RaymondSupreme Judicial Court of Maine · 1985
- Harley-Davidson Motor Co., Inc., and Itt Commercial Finance Corp. v. Bank of New England--Old Colony, N.A.Court of Appeals for the First Circuit · 1990
- Universal CIT Credit Corp. v. Farmers Bank of PortagevilleDistrict Court, E.D. Missouri · 1973
- Brown & Williamson Tobacco Corp. v. First National Bank of Blue Island, a National Banking AssociationCourt of Appeals for the First Circuit · 1974
- C. O. Funk & Sons, Inc. v. Sullivan Equipment, Inc.Illinois Supreme Court · 1982
7 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Van Diest Supply Co. v. Shelby County State BankCourt of Appeals for the Seventh Circuit · 2005
- General Electric Capital Corporation, Appellant/cross-Appellee v. Union Planters Bank, Na, Appellee/cross-AppellantCourt of Appeals for the Eighth Circuit · 2005
- In Re SpenlinhauerUnited States Bankruptcy Court, D. Maine · 1995
- General Electric Co. Business Lighting Group v. Halmar Distributors, Inc. (In Re Halmar Distributors, Inc.)United States Bankruptcy Court, D. Massachusetts · 1999
- General Electric v. Union Planters BankCourt of Appeals for the Eighth Circuit · 2005
1 more not listed; retrieve them via the Exa API.