Legal Opinion
Bank of Brewton v. General Motors Acceptance Corp.
District Court, S.D. Alabama
Decided November 2, 1992No. Civ. A. 91-0907-B-CPublishedCited by 1 opinion
1Opinion of the Court
ORDER
BUTLER, District Judge.
This matter is before the court on submission by the parties for adjudication based on stipulated and agreed facts. The case presents two issues: 1) Did the individual mortgage from Kearney and Tice securing the Quality Chevrolet dealership property cross-collateralize the dealership debts secured by the personal guarantees of Kearney and Tice that were incurred the same day? and 2) Is GMAC entitled to the proceeds of sales of its secured collateral, which proceeds have been paid by the debt- or to the Bank of Brewton?
Findings of Fact
The facts are contained in the…
2Cases cited4 opinions
- First Nat. Bank of Guntersville v. BainSupreme Court of Alabama · 1939
- Underwood v. JarvisSupreme Court of Alabama · 1978
- Linn Cooperative Oil Co. v. Norwest Bank Marion, N.A.Supreme Court of Iowa · 1989
- Bank of Oklahoma, N.A., Grove Branch, Formerly Bank of Oklahoma Grove v. The Islands Marina, Ltd., an Oklahoma Corporation Charles Gary James Patricia K. James Bank of the Lakes of Langley, Oklahoma Chrysler First Wholesale Credit, Inc. Donzi Credit Corporation First Oklahoma Savings Bank Guaranty National Bank Robert Williams Robert Montgomery First State Bank of Ketchum, Oklahoma Wellcraft Marine, a Division of Genmar, Inc., and First National Bank, and Trust Company of Vinita, Jerry Courtney, Bank of Oklahoma, N.A., Grove Branch, Formerly Bank of Oklahoma Grove v. The Islands Marina, Ltd., an Oklahoma Corporation Charles Gary James Patricia K. James Bank of the Lakes of Langley, Oklahoma Chrysler First Wholesale Credit, Inc. Donzi Credit Corporation First Oklahoma Savings Bank Guaranty National Bank Robert Williams Robert Montgomery First State Bank of Ketchum, Oklahoma Emery Urfer Harris-Kayot, Inc. Wellcraft Marine, a Division of Genmar, Inc., and First National Bank, and Trust Company of Vinita, Jerry CourtneyCourt of Appeals for the First Circuit · 1990
3Cited by1 opinion
- In Re BrooksUnited States Bankruptcy Court, E.D. Tennessee · 2002