Edward Hosch entered into four loan agreements with Citicapital Commercial Corporation to finance the purchase of heavy
Question:
Edward Hosch entered into four loan agreements with Citicapital Commercial Corporation to finance the purchase of heavy construction equipment. Four months later, Citicapital merged into Citicorp Leasing Corporation Inc., which was then renamed GE Capital Commercial Inc. A year later, GE Capital assigned most of the loans to Colonial Pacific Leasing Corporation via a written assignment. Hosch subsequently defaulted on the loans, and Colonial provided a notice of default and demanded payment. Hosch failed to repay the loans, so Colonial sued to collect them, submitting a copy of the written assignment as evidence, but not submitting any evidence that Hosch had been notified of the assignment. The trial court granted summary judgment to Colonial and entered final judgment against Hosch. On appeal, could Horsch argue that the assignment was invalid because he had not been notified of the assignment? [Hosch v. Colonial Pacific Leasing Corp., 113 Ga. App. 873 (2012).]
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Dynamic Business Law The Essentials
ISBN: 978-1259917103
4th edition
Authors: Nancy Kubasek, Neil Browne, Daniel Herron