Legal Opinion
In Re Crafty Fox, Ltd.
District Court, W.D. Virginia
Decided July 16, 1980No. Bankruptcy 77-00164PublishedCited by 3 opinions
1Opinion of the Court
OPINION
TURK, Chief Judge.
This case presents the question of the extent to which the Bankruptcy Court is bound by a provision in a secured note awarding stipulated fees to the secured creditor in the event he finds it necessary to employ counsel for purposes of collection:
Crafty Fox, Ltd. (“Crafty Fox”) on May 23, 1974 entered into a note evidencing its indebtedness to the appellee, Farmers and Merchants Bank of Boones Mill (the “Bank”), in the amount of $70,000. Included among the terms of the note was the following provision:
If this note is not paid at maturity and is collected by suit or…
2Cases cited10 opinions
- Manufacturers' Finance Co. v. McKeySupreme Court of the United States · 1935
- Conway v. American National BankCourt of Appeals of Virginia · 1926
- Colley v. Summers Parrott Hardware Co.Supreme Court of Virginia · 1916
- University of Richmond v. StoneSupreme Court of Virginia · 1927
- Triplett v. Second National Bank of CulpeperCourt of Appeals of Virginia · 1917
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3Cited by3 opinions
- In Re CareyUnited States Bankruptcy Court, S.D. California · 1981
- In Re BanksUnited States Bankruptcy Court, N.D. Alabama · 1982
- Schlecht v. Alaska (In Re Schlecht)United States Bankruptcy Court, D. Alaska · 1983