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Home Q & A Board Humanities Legal Studies
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ac22888 ac22888
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6 years ago
Repossession. Leroy Headspeth bought a car under an installment sales contract that expressly permitted the creditor to repossess the car if the debtor defaulted on the payments. The seller assigned the contract to Mercedes Benz Credit Corp (MBCC). When Headspeth defaulted on the payments, an agent of Laurel Adjustment Bureau, Inc (LAB), went onto Headspeth's property and repossessed the car on MBCC's behalf. Headspeth filed a suit against MBCC and LAB, contending in part that LAB trespassed onto his property to retake the car and that therefore the repossession was wrongful. Headspeth admitted that the repossession occurred without confrontation. Can a secured creditor legally retake possession of collateral, on the debtor's default, by entering onto the debtor's land, or would that be an illegal breach of the peace? How will the court rule? Explain.
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Techflow21Techflow21
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6 years ago
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ac22888 Author
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6 years ago
Brilliant ツ
branbran2k16
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Yesterday
Helped a lot
veronee_madison
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2 hours ago
Thanks
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