After receiving a promotion to logistics manager, Shantil's husband, Ashton, purchased a 2017 BMW SUV for $68,000;
Question:
After receiving a promotion to logistics manager, Shantil's husband, Ashton, purchased a 2017 BMW SUV for $68,000; however, he financed $48,000 through First Florida Banc. The bank took a security interest in the vehicle.Ashton was out of town for work when Shantil found out he had been having an affair.Shantil took a baseball bat and broke the windows and put dents in the BMW. Shantil then dropped the car off at the girlfriend's apartment. Ashton was furious. After taking the car to a body shop for repairs, Ashton was unable to pay the bill due to the divorce, so he negotiated terms with the body shop; however, the shop retained possession of the vehicle. The repair shop claimed a lien on the car for services and materials in the amount of $21,250. Ashton stopped making payments to the bank while he was trying to save money to pay off the repair. First Florida Banc claimed priority.
- Discuss the rights of each party and determine which party is in the best position to prevail.
Expert Answer:
In this scenario there are multiple parties involved Shantil Ashton First Florida Banc and the repair shop Lets break down the rights and positions of ... View the full answer
