Landmark Chevrolet, Inc. v. Central Bank of South

ADAMS, Justice.

Landmark Chevrolet, Inc., appeals from a judgment entered in favor of Central Bank of the South and awarding damages of $12,378.41 in a breach of contract action. We reverse and remand.

The case was submitted to the trial court on the pleadings and the following stipulation of facts:

On December 12, 1986, Landmark Chevrolet, Inc., and Central Bank entered into a “Dealer Discount Agreement,” which provided for the sale and purchase of security agreements, “including installment sale contracts, notes and chattel paper, arising out of the sales of new and/or used motor vehicles by…