In re Woolridge
United States Bankruptcy Court for the Southern District of Texas
2014 Bankr. Lexis 2275 (2014)
- Written by Tammy Boggs, JD
Facts
In late 2012, James Wooldridge (debtor) listed his 1977 boat named Top Secret for sale. Wooldridge had only owned one previous boat and was not in the business of selling boats. The boat was docked and floating at a marina, and Wooldridge had paid the docking fees through February 2013. Keith Ritchson (plaintiff) was interested in the boat. In early February, Wooldridge, Ritchson, and Ritchson’s wife inspected the boat together. Wooldridge disclosed to Ritchson that the engine was not running. Ritchson was not worried about the engine because he knew how to fix engines. It was disputed whether further disclosures were made about the boat’s condition. According to Wooldridge, he disclosed a packing-gland leak and told the Richardsons that the bilge pump had to remain plugged in. The bilge pump kept the water in the bilge at a low level, preventing the packing-gland issue from causing the boat to sink. Ritchson’s wife confirmed that there was a discussion about the bilge pump needing to be plugged in, though she could not remember the specifics. Ritchson denied any discussion or knowledge of a packing-gland leak. Ritchson offered to trade certain vehicles for the boat, and Wooldridge agreed. On February 9, 2013, the parties concluded their barter transaction. Ritchson delivered his assets, and in exchange, Wooldridge gave Ritchson the boat keys and proper title documentation. Wooldridge also orally notified the marina that the boat had been sold, which the marina confirmed was sufficient notice. The Ritchsons did not have a trailer to move the boat that day and said they would come back on a later date. Ritchson’s wife believed they were free to take the boat on February 9. Ritchson said he thought the marina would need additional permission from Wooldridge to release the boat to Ritchson. On February 18, 2013, before Ritchson could move the boat, it sank in the harbor because the bilge pump had lost power. Ritchson filed a claim against Wooldridge’s bankruptcy estate, alleging breach of contract. Ritchson argued that the risk of loss had not passed to him before the boat sank.
Rule of Law
Issue
Holding and Reasoning (Isgur, J.)
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