Bank of America, N.A. v. C.D. Smith Motor Co.

Tom Glaze, Justice.

This is a contract case which, among other things, involves the interpretation of our Uniform Commercial Code, particularly Ark. Code Ann. §§ 4-1-205 and 4-2-202 (Repl. 2001), the Code’s course-of-dealing provisions. We also take jurisdiction of this appeal because it requires the court’s interpretation of Ark. Code Ann. § 16-64-130 (Supp. 2001), as to when punitive damages can be awarded in a contract case involving a financial institution.

Appellee C.D. Smith Motor Co., Inc. (C.D. Smith), 1 was a used-car dealer in Pine Bluff, and had established a recourse-financing…