Defendant maintains that plaintiff, Bowman’s innocent victim, should suffer the loss instead of itself, the party which made the fraud possible by its misplaced confidence in Bowman’s integrity by placing in his hands the means to commit the fraud. This is exactly what Bowman did and defendant must have realized that if there was a used car “trade in” Bowman would be given the possession of it and the evidence of its ownership––the “pink slip”. Thus defendant should have realized that it was placing Bowman in a position to work a fraud if he proved unfaithful to the trust and confidence imposed in him. The use of the words “considerations” and “security” would indicate the receipt of something besides money by the dealer as money easily would come within the definition of “proceeds.”
Both finance companies were “entrusters” who gave “new value” and were “purchasers” as those terms are defined in section 3013 of the Civil Code. On the same day Bowman took the Plymouth to the office of plaintiff and secured an advance of $450 and executed a trust receipt therefor, with the Plymouth as security. He delivered to plaintiff the pink slip endorsed in blank by Kimzey and returned the Plymouth to his stock where it remained until January 10, 1941. The financial institution, product, and APY data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region.
Pan American shareholders, on a pro forma basis, will own approximately 11% of the combined company, with 89% owned by F&T Financial Services stockholders. Insurance agents throughout the state of Massachusetts frequently have the need to be able to premium finance surplus & commercial insurance risks, FAIR Plan homeowners policies, and automobile insurance. WinRater wanwei news provides accurate, comparative quotes from all Massachusetts insurance carriers. This relationship allows Thrifty agents to instantly populate customer data from WinRater to Thrifty’s online finance application. Both Pan American and Finance and Thrift are community development financial institutions, set up specifically to serve lower-income customers.
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Kimzey was a buyer in the ordinary course of the trade and obtained a good title to the Pontiac free from the lien of defendant. 1, Civil Code; Commercial Discount Co. v. Mehne, 42 Cal.App.2d 220, 108 P.2d 735. Bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. We have 7 Finance & Thrift locations with hours of operation and phone number. Hughes said plans call for the opening of a new Pan American branch operation later this year in the north San Fernando Valley, as part of a strategic goal of expanding into select Los Angeles markets with significant Hispanic and low-to-moderate income consumers.
Join our community of B Corps, small businesses, and other do-no-harm enterprises with lending and deposits to help you grow. The deal completes last summer’s effort by 17 community banks that invested a total of $6.3 million in Pan American to ward off regulators ready to seize it. The banks and other shareholders will trade their stock for an 11% stake in the new institution. Finance and Thrift Co. in Porterville will adopt the Pan American name and move its headquarters to the one-branch office in East Los Angeles. As a first step, the merged bank will open a branch to serve working-class Latinos in the northern San Fernando Valley, said Robert Hughes, the thrift’s chief executive.
After the purchase, Finance and Thrift Co. plans to market commercial loans to mom-and-pop businesses unable to qualify for the SBA loans that Pan American Bank had offered. Plaintiff was awarded $450, with interest and costs, to be paid out of money deposited with the county clerk of Tulare County. The rights of defendant here must turn on the definition of the words “account” and “accounting” as used in the foregoing section.
