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Secured Transactions Keyed to Lopucki
In re Lockovich
Citation:124 B.R. 660 (W.D. Pa. 1991)
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
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- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
On August 20, 1986, John J. Lockovich and Clara Lockovich, his wife (debtors), purchased a 22-foot 1986 Chapparel Villain III boat from the Greene County Yacht Club for $32,500. Debtors paid $6,000 to Greene County Yacht Club and executed a security agreement. Debtors granted a security interest in the boat to the holder of the contract. Gallatin National Bank paid to the Yacht Club the sum of $26,757.14 on debtor’s behalf and the contract was assigned to Gallatin. The debtors filed for relief under Chapter 11.
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