(Download) "Cahaba Seafood v. Central Bank South" by Supreme Court of Alabama " Book PDF Kindle ePub Free
eBook details
- Title: Cahaba Seafood v. Central Bank South
- Author : Supreme Court of Alabama
- Release Date : January 07, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
This is an appeal from a summary judgment entered in favor of Central Bank of the South on claims by the appellants, Cahaba Seafood, Inc., and Tom and Frances Greenhalgh, for damages based on alleged intentional interference with business relations, fraud and misrepresentation, negligence and/or wantonness, and economic duress. The plaintiffs had also alleged breach of contract; however, that claim is still pending before the trial court. With regard to the claims pertinent to this appeal, the trial Judge certified the judgment final pursuant to Rule 54(b), A.R.Civ.P. We affirm. Tom and Frances Greenhalgh moved to Birmingham with the intention of opening a retail and wholesale seafood business. In order to finance their business venture, they formed a corporation, Cahaba Seafood, Inc., and sought a construction loan for their new building. Originally, they obtained a loan from National Bank of Commerce; however, they eventually borrowed $275,000 through Central Bank and the Small Business Administration to pay off their loan at National Bank and to meet the cost overruns of their building. Thereafter, Cahaba Seafood sought a line of credit from Central Bank in order to set up and
maintain working capital for the new business. A line of credit was established with the following pertinent provisions: