Legal Opinion
C.F. Garcia Enterprises, Inc. v. Enterprise Ford Tractor, Inc.
Supreme Court of Virginia
Decided January 10, 1997No. Record 960616PublishedCited by 11 opinions
1Opinion of the CourtJustice Keenan
In this appeal, we consider whether a contract created a security interest or a lease.
In April 1989, C.F. Garcia Enterprises, Inc. (Garcia), and Enterprise Ford Tractor, Inc. (Enterprise), entered into a contract titled “Equipment Lease Agreement.” The contract provided for Garcia to lease a 1979 Ford model 555 Tractor-Loader-Backhoe (backhoe) from Enterprise in exchange for monthly rental payments totalling $17,250. The contract provided that when the lease terminated on July 31, 1990, Garcia retained the option to purchase the backhoe for $1 upon informing Enterprise in writing that it…
2Cases cited16 opinions
- Wilson v. HolyfieldSupreme Court of Virginia · 1984
- In the Matter of Marhoefer Packing Company, Inc., Bankrupt, Appeal of Robert Reiser & Company, Inc., CreditorCourt of Appeals for the Seventh Circuit · 1982
- In Re J. A. Thompson & Son, Inc., Debtor. Ralph Aoki, Receiver v. Shepherd MacHinery Co.Court of Appeals for the Ninth Circuit · 1982
- FMA Financial Corp. v. Pro-PrintersUtah Supreme Court · 1979
- Langman v. ALUMNI ASS'N OF U. OF VA.Supreme Court of Virginia · 1994
11 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Brockbank v. Best Capital Corp.Supreme Court of South Carolina · 2000
- Transcontinental Insurance v. RBMW, Inc.Supreme Court of Virginia · 2001
- Shepherd v. DavisSupreme Court of Virginia · 2003
- Hartzell Fan, Inc. v. Waco, Inc.Supreme Court of Virginia · 1998
- Gordonsville Energy, L.P. v. Virginia Electric & Power Co.Supreme Court of Virginia · 1999
6 more not listed; retrieve them via the Exa API.