M & M Auto Outlet v. Hill Investment Corp.

KITE, Justice.

[¶ 1] M & M Auto Outlet (M & M) and Hill Investment Corporation, doing business as First Financial, Inc., (FFI) entered into a contract in which FFI agreed to purchase vehicle loans from M & M and perform collection activities on the loans at its expense. In the event an M & M customer became delinquent on a loan, the contract provided that M & M would pay FFI the “full recourse amount.” Alleging that M & M failed to pay the full recourse amount on delinquent loans in accordance with the contract, FFI filed a complaint for breach of contract. The district court granted summary…