Laurel Coal Co. v. Walter E. Heller & Co., Inc.

OPINION

TEITELBAUM, District Judge.

Defendant has filed a motion to dismiss for failure to state a claim upon which relief can be granted pursuant to Rule 12 of the Federal Rules of Civil Procedure. This diversity action arises out of the events surrounding the repossession of a bulldozer by defendant. Plaintiff, Laurel Coal Co., was admittedly an obligor under a promissory note held by defendant Walter E. Heller & Co., Inc. The collateral for the note was a bulldozer. Upon plaintiff’s alleged default and failure to tender full payment of the note as demanded defendant repossessed the bulldozer…