Fuqua Homes, Inc. (Fuqua), is a manufacturer of prefabricated houses. MMM, a dealer of prefabricated homes, was
Question:
Fuqua Homes, Inc. (Fuqua), is a manufacturer of prefabricated houses. MMM, a dealer of prefabricated homes, was a partnership created by two men named Kirk and Underhill. On seven occasions before the disputed transactions occurred, MMM had ordered homes from Fuqua. MMM was contacted by Kenneth Ryan, who wanted to purchase a 55 foot modular home. MMM called Fuqua and ordered a prefabricated home that met Ryan’s specifications. Fuqua delivered the home to MMM and retained a security interest in it until MMM paid the purchase price. MMM installed the house on Ryan’s property and collected full payment from Ryan. Kirk and Underhill then disappeared, taking Ryan’s money with them. Fuqua was never paid for the prefabricated home it had manufactured. Ryan had no knowledge of the dealings between MMM and Fuqua. Fuqua claimed title to the house based on its security interest. Who has title to the home? Fuqua Homes, Inc. v. Evanston Bldg. & Loan Co., 52 Ohio App. 2d 399, 370 N. E. 2d 780, 1977 Ohio App. Lexis 6968 (Court of Appeals of Ohio)
DealerA dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
Step by Step Answer:
Business Law Legal Environment Online Commerce Business Ethics and International Issues
ISBN: 978-0134004006
9th edition
Authors: Henry R. Cheeseman