Question

WHAT IF THE FACTS WERE DIFFERENT?
Suppose that the name Pyramid Title, LLC, had not been included on the face of the check. Would Peoples have been personally liable for payment of the check in that situation? Why or why not?

The Economic Dimension
Should Encore Credit Corporation’s failure to “timely fund” the $ 26,000 loan be taken into consideration by the court when determining whether Peoples could be held person-ally liable on the check? Discuss fully.

On August 26, 2005, Anthony and Alcibia Jeanmarie sold property located in New Orleans to Melanie Murray. As part of the transaction, Encore Credit Corporation provided two loans to Murray, for $ 104,000 and $ 26,000. Murray secured each loan with a mortgage (mortgages will be discussed in Chapter 30) in favor of Encore. Mark Peoples, through his company, Pyramid Title, LLC, handled the closing of the sale. At the closing, a check was drawn on the Pyramid escrow accounta in the sum of $ 110,303.86, payable to the Jeanmaries.



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  • CreatedJune 18, 2014
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