About this document
Loan Secured by Chattel Mortgage by Jaerelle Hernandez is a document available to read on EtoBox.
1) TMI owned equipment and sought a loan from PCILF, who instead proposed a sale-leaseback agreement where PCILF would buy the equipment and lease it back to TMI. 2) Issues arose regarding whether the agreement constituted a valid financial lease or was actually a loan secured by chattel mortgage on the equipment. 3) The Court of Appeals and Supreme Court both ultimately ruled that the transaction was a loan secured by chattel mortgage on the equipment, not a true financial lease, and that TMI was entit
- Author
- Jaerelle Hernandez
- Language
- EN