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Secured Transactions Keyed to Lopucki
Feresi v. The Livery, LLC
Citation:182 Cal. Rptr. 3d 169 (Cal. Ct. App. 2014)
Pursuant to a divorce settlement, a court had ordered James Mesa to pay Renee Feresi’s mortgage within five years. The court also ordered that obligation secured by a security interest in a LLC that Feresi and Mesa had co-founded. Without Feresi’s knowledge, Mesa later borrowed money from Hartley, the third member and president of the LLC and gave Hartley a security interest in the same collateral. Hartley knew of the Feresi’s security interest but perfected without alerting her.
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