Thelma Agnes Smith v. David Phillip Riley,
Statement of facts.
The plaintiff and defendant cohabited together for numerous years without entering into marriage or civil union. Although, there was a romantic relationship. Unfortunately, the relationship has soured resulting in the need to liquidate assets that were acquired within joint ownership. The plaintiff and defendant had both agreed previously to how the assets would be divided, this agreement was not followed therefore litigation commenced.
Case Arguments.
The plaintiff Thelma Smith, argued that their partnership would be considered a method partnership under Tennessee law although there were not married, through their relationship collected numerous assets including but …show more content…
The bank account that they had that have been stated above were at institutions that have been acquired through other institutions and they were allowed an investment opportunity to purchase Company stock at a reduced rate that would allow them to sell the stock right after purchasing it and make a profit. However, the checks that were used to transfer the funds were dishonored therefore they were not able to make the investment losing out on A substantial amount of money any amount of $306,872 according to the …show more content…
The case arguments for this case where that the plaintiffs and their company did not have full standing of “customers” of the bank therefore were not able to have equitable standing to file suit against the defendant. The term customers defined as a person having a relationship with the bank or individual that a bank has a relationship with to maintain other accounts. Under this terminology, the defendants filed a motion for summary judgment stating the plaintiffs did not have standing as they were not customers of the bank, and therefore the case should be dismissed for lack of standing.
The plaintiffs argued that they did have equitable standing they were customers of the the bank involved along with their Company Heronwood. They also argued as they have placed their personal Home as collateral for Heronwood, they have met the term for being a customer of the bank in there for summary judgment should denied in favor of the plaintiff as there is standing to move forward.
The court’s
Statement of facts.
The plaintiff and defendant cohabited together for numerous years without entering into marriage or civil union. Although, there was a romantic relationship. Unfortunately, the relationship has soured resulting in the need to liquidate assets that were acquired within joint ownership. The plaintiff and defendant had both agreed previously to how the assets would be divided, this agreement was not followed therefore litigation commenced.
Case Arguments.
The plaintiff Thelma Smith, argued that their partnership would be considered a method partnership under Tennessee law although there were not married, through their relationship collected numerous assets including but …show more content…
The bank account that they had that have been stated above were at institutions that have been acquired through other institutions and they were allowed an investment opportunity to purchase Company stock at a reduced rate that would allow them to sell the stock right after purchasing it and make a profit. However, the checks that were used to transfer the funds were dishonored therefore they were not able to make the investment losing out on A substantial amount of money any amount of $306,872 according to the …show more content…
The case arguments for this case where that the plaintiffs and their company did not have full standing of “customers” of the bank therefore were not able to have equitable standing to file suit against the defendant. The term customers defined as a person having a relationship with the bank or individual that a bank has a relationship with to maintain other accounts. Under this terminology, the defendants filed a motion for summary judgment stating the plaintiffs did not have standing as they were not customers of the bank, and therefore the case should be dismissed for lack of standing.
The plaintiffs argued that they did have equitable standing they were customers of the the bank involved along with their Company Heronwood. They also argued as they have placed their personal Home as collateral for Heronwood, they have met the term for being a customer of the bank in there for summary judgment should denied in favor of the plaintiff as there is standing to move forward.
The court’s