Keels v. Pierce

In September 1990, Henry C. Keels and Keels Music Company, Inc. (collectively referred to as “Keels”) brought an action against B.J. Pierce for foreclosure of a real estate mortgage and a security interest in related personal property (a mobile home park, mobile homes, vehicles, and equipment). Pierce answered with a general denial and an affirmative defense based upon waiver of the right to accelerate the debt.

In January 1991, Pierce brought a separate action against Keels alleging breach of an express warranty, breach of implied warranties of merchantability and fitness for a particular…