Clem Perrin Marine Towing, Inc. v. Panama Canal Co.

730 F.2d 186 (1984)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
C
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

Clem Perrin Marine Towing, Inc. v. Panama Canal Co.

United States Court of Appeals for the Fifth Circuit
730 F.2d 186 (1984)

Facts

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

Issue

Holding and Reasoning (Higginbotham, J.)

What to do next…

  1. 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 806,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. 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.

    Learn about our approachRead more about Quimbee

Here's why 806,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 806,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 988 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Sales

Key Terms