Autolign Manufacturing Group, Inc., borrowed funds from Wamco 34, Ltd., to operate its auto parts business. The
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Autolign Manufacturing Group, Inc., borrowed funds from Wamco 34, Ltd., to operate its auto parts business. The loan was secured by the molds that were used to form the parts. Autolign contracted with Delta Engineered Plastics, LLC, to make the parts and provided Delta with the molds. When Autolign defaulted on its obligations to Wamco and Delta, Delta asserted a “molder’s lien” against the molds in its possession. A molder’s lien is similar to an artisan’s lien. Wamco argued that the molds were its property. Which claim had priority? Explain. [Delta Engineered Plastics, LLC v. Autolign Manufacturing Group, Inc., 286 Mich.App. 115, 777 N.W.2d 502 (2010)]
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Business Law Today Comprehensive Text And Cases Diverse Ethical Online And Global Environment
ISBN: 9781285428932
10th Edition
Authors: Roger LeRoy Miller
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