From our private database of 14,100+ case briefs...
Clem Perrin Marine Towing, Inc. v. Panama Canal Co.
United States Court of Appeals for the Fifth Circuit
730 F.2d 186 (1984)
Clem Perrin Marine Towing, Inc. (Clem) (plaintiff) owned a boat that was encumbered by two mortgages. Clem leased the boat to Panama Canal Co. (Panama) (defendant). The lease agreement included an option to purchase the boat at the end of the lease. After Panama signed the lease agreement, Clem took out a third mortgage on the boat. Clem then fell behind on payments on the first mortgage. A person involved in brokering the transaction between Clem and Panama notified Panama that Clem had stopped paying the first mortgage. Panama contacted Clem, requesting Clem’s assurance that Clem could provide clear title to the boat when the lease-purchase option became exercisable. Panama withheld further lease payments pending Clem’s assurance. Instead of responding with an assurance, Clem sued Panama for the withheld lease payment. A few months later, the holders of the first and second mortgages gave notice of foreclosure, and Panama purchased those mortgages. Panama counterclaimed for damages, arguing that Clem breached the agreement by failing to provide clear title to the boat. The district court held that Panama breached the lease agreement, and Panama appealed.
Rule of Law
Holding and Reasoning (Higginbotham, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 221,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.