Default judgment

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    failure to extract an infected tooth on August 3. John Brown ignored Dr. Furlow’s recommendation to return because his tooth was infected. Mr. Brown then went on vacation and while on vacation he passed out due to infection, pain, and the infection spreading. Mr. Brown incurred medical expense and loss of wages. Furlow was served with a complaint on March 1. Furlow made an appointment with his attorney for March 19th, due to circumstances beyond his control Furlow had to reschedule his appointment for March 23. Meanwhile, a default judgment was entered against Furlow-he immediately filed a motion to set aside the default judgment. Question(s) Presented: What factors must be shown to constitute good cause for setting aside a default judgment? Answer: Ky. Civ. R. 60.02 “… (f) any other reason of an extraordinary nature justifying relief. The motion shall be made within a reasonable time, and on grounds (a), (b), and (c) not more than one year after the judgment, order, or proceeding was entered or…

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    It’s another grim day in a place that nothing ever happens. No ghosts ever haunt, no demons posses, and gods never have the heart to bless. This place, where weather is always the same, a default cloud and sun that somehow makes the most cheerful and joyous of experiences into a dreary and dull event. Always seems that everyone involved is lethargic and rather annoyed. Here, it is where our story begins. About a young girl who could see strange creatures, a young girl who lives in a place where…

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    Situation Of Default

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    time so as to ensure that no situation arises which may result in any kind of suspicion to the lender. Knowingly or unknowingly he may not commit any act which may constitute a default according to the conditions of the loan agreement, for it may have disastrous consequences for him. A Default means the occurrence of a situation when the Borrower is likely to commit default in the discharge of his financial obligation. i.e. the payment of interest or other dues or repayment of the loan amount…

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    Case Activities 3 Discharge in Bankruptcy In this case, Joseph Harman, the president of Carter Oaks Crossing was loaned $400,000 by Caroline McAfee. Harman signed a promissory note that specified the company would repay the amount of the loan with interest in installments in which the installments would begin in 1999 and end in 2006. Harman signed a personal guaranty with the promissory note. Carter Oaks Crossing eventually defaulted on the note causing McAfee to sue Harman for payment under…

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    Charter Bank Case

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    Metropolitan defaulted on its agreement with World Wide six months later, World Wide brought suit, asserting its alleged security agreement in Metropolitan’s accounts receivable. Bank filed a counterclaim, asserting its perfected security interest in Metropolitan’s accounts receivable. Who wins? World Wide Tracers, Inc. v. Metropolitan Protection, Inc., 384 N.W.2d 442, Web 1986 Minn. Lexis 753 (Supreme Court of Minnesota) Who wins? Answer: World Wide Tracers, Inc. to Metropolitan Protection,…

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    6 reasons why Singapore 's Small medium enterprises (SME) take up a business loan It is no secret that the economy is tough. Unemployment rates have put the globe on a huge wheel, and many companies have met an untimely bankruptcy, while some are on the edge of extinction. In today’s continuously fluxing economic climate, the riddle of starting and managing a small business is getting diificult. Nevertheless, the less fainted hearted are still thriving. In fact, it is surprising that some…

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    Many students each year graduate from state or private universities leaving with what at times is an astronomical amount of student loan debt. I am basing my argument on the risks of taking out student loans, what legal action can help those that may be in trouble and ways to help students find other alternatives to reducing student loan debt. According to the Huffpost.com student loan debt is at a stake of the crisis in our country. It surpasses by far credit card debt and other expenditures…

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    All activities of the company is done with the governance of a person called Director of the company. Director’s duties comes from common law and statue law under Corporation Act 2001.They designed so that director can provide good direction and ensure that they are working for the interest of the company. They do not use their position and information provided to them improperly. Sometime there is the situation of insolvent trading where the director of the company allow their company to incur…

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    Piggyback Loan Advantages

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    Finally, a piggyback loan allows the home buyer to purchase a home without paying PMI or private mortgage insurance. PMI is basically an insurance policy for the lender in case the borrower defaults on the loan. The lender however makes the borrower pay for this insurance policy either up front or as a monthly payment. Most lenders require PMI unless the home buyer has at least 20% equity in the home. Since a piggyback loan takes care of the 20% equity through another lender the first lender…

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    The Greek Debt Crisis

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    Zimbabwe, Argentina, Cyprus, Greece, Puerto Rico have all grappled with massive economic disruption caused by debt default. The sad reality is that it will take one or larger, involuntary economic meltdowns where debts are nullified, entitlements reduced or eliminated, and derivatives reigned in to put things back in order. The first such meltdown is expected to begin before the end of 2016. Reinhart and Rogoff are right. It’s no different this time. Except that this time there might not be…

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