Blute Profit Sharing Plan v. Terrazas

OPINION

HOWARD, Judge.

Ronald Terrazas appeals from an order granting summary judgment which held him personally liable on secured notes in the amount of $100,000 and imposed treble damages for RICO violations.

FACTS

On March 16, 1985, Terrazas executed to appellee Dr. Blute two $50,000 promissory notes secured by a financing statement in inventory under A.R.S. § 47-9102. Terrazas and Gary Price signed the notes as treasurer and president, respectively, of a then non-existing corporation known as L & N Automotive, Inc. (L & N). On March 14,1986, two days before the notes became due, L & N filed…