Legal Opinion
POWER EQUIPMENT v. First Alabama Bank
Supreme Court of Alabama
Decided August 9, 1991No. 1900126PublishedCited by 49 opinions
1Opinion of the Court
[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.]
The Commercial Bank sued Power Equipment Company, Inc., claiming that Power Equipment had defaulted on two promissory notes. The first note, which The Commercial Bank claimed had an outstanding balance of $20,250 when the suit was filed, evidenced a loan made to Power Equipment in June 1985 to enable it to purchase a forklift to be used in its business operations. The second note, executed in August 1985, represented a $900,000 line of credit that was to be used…
2Cases cited27 opinions
- Sedima, S. P. R. L. v. Imrex Co.Supreme Court of the United States · 1985
- Lou v. BelzbergCourt of Appeals for the Ninth Circuit · 1987
- CBS Inc. v. Brown & Williamson Tobacco Corp.Supreme Court of the United States · 1988
- Bank of Red Bay v. KingSupreme Court of Alabama · 1985
- Southern Guar. Ins. Co. v. First Ala. BankSupreme Court of Alabama · 1989
22 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- Green Tree Financial Corp. v. VintsonSupreme Court of Alabama · 1999
- Patrick Home Center, Inc. v. KarrSupreme Court of Alabama · 1999
- Locklear Dodge City, Inc. v. KimbrellSupreme Court of Alabama · 1997
- Flying J Fish Farm v. Peoples Bank of GreensboroSupreme Court of Alabama · 2008
- Ex Parte RymerSupreme Court of Alabama · 2003
44 more not listed; retrieve them via the Exa API.