For Your Data Mm Companies, Inc. V. Liquid Audio, Inc. Illustration Brief
February 23, 2016
Edit
MM Companies, Inc. v. Liquid Audio, Inc. illustration brief summary
741 P.2d 840 (1987)
CASE FACTS
The erstwhile in addition to novel trucking companies contracted for the novel society to purpose the erstwhile company's certificate of world convenience in addition to necessity inward the functioning of a business. The erstwhile society collected all charges due for the novel company's transportation, deducted a clerical fee in addition to a per centum of profits, in addition to remitted the repose to the novel company. It was responsible for paying its operating expenses, only all operations utilizing fuel were nether the erstwhile company's control, in addition to all billing was nether its name. The novel society filed for bankruptcy. The erstwhile society fix an escrow describe organisation human relationship in addition to assured the fossil oil society that it would move paid. Instead, the erstwhile society paid other creditors in addition to took an administrative fee. The lawsuit courtroom institute for the fossil oil society inward its activeness to recover its indebtedness.
DISCUSSION
CONCLUSION
The courtroom affirmed the determination for the fossil oil society inward the fossil oil company's activeness against the novel in addition to erstwhile trucking companies for payment of the indebtedness to the fossil oil company.
Recommended Supplements for Corporations in addition to Business Associations Law
741 P.2d 840 (1987)
CASE SYNOPSIS
Defendant erstwhile trucking society appealed the judgment of the District Court of Lea County (New Mexico), which institute inward favor of plaintiff fossil oil society based upon a determination that accused novel trucking society was the erstwhile trucking company's agent when the novel trucking society incurred indebtedness amongst the fossil oil company.CASE FACTS
The erstwhile in addition to novel trucking companies contracted for the novel society to purpose the erstwhile company's certificate of world convenience in addition to necessity inward the functioning of a business. The erstwhile society collected all charges due for the novel company's transportation, deducted a clerical fee in addition to a per centum of profits, in addition to remitted the repose to the novel company. It was responsible for paying its operating expenses, only all operations utilizing fuel were nether the erstwhile company's control, in addition to all billing was nether its name. The novel society filed for bankruptcy. The erstwhile society fix an escrow describe organisation human relationship in addition to assured the fossil oil society that it would move paid. Instead, the erstwhile society paid other creditors in addition to took an administrative fee. The lawsuit courtroom institute for the fossil oil society inward its activeness to recover its indebtedness.
DISCUSSION
- The courtroom affirmed in addition to held that a main could move held liable for the unauthorized acts of its agent if the transaction was ratified later on cognition was acquired of the cloth facts concerning the transaction.
- Where the erstwhile society retained the benefits of its describe organisation relations amongst the novel society amongst cognition of the cloth facts, the erstwhile society ratified the debt to the fossil oil company.
CONCLUSION
The courtroom affirmed the determination for the fossil oil society inward the fossil oil company's activeness against the novel in addition to erstwhile trucking companies for payment of the indebtedness to the fossil oil company.
Recommended Supplements for Corporations in addition to Business Associations Law