Logourl black
From our private database of 14,100+ case briefs...

Jones v. Approved Bancredit Corp.

Supreme Court of Delaware
256 A.2d 739 (1969)


Facts

Myrtle Jones (defendant) signed a promissory note under which Jones would pay $3,250 in installments to Albee Dell Homes, Inc. (Dell), as payment for Dell’s construction of a house. Dell immediately sold and assigned the note to Approved Bancredit Corporation (Bancredit) (plaintiff) for $2,250. Dell’s builder refused to complete work on the house after an employee knocked the partially completed house off its foundation with a bulldozer. Dell disclaimed responsibility. Bancredit sued Jones to collect the unpaid balance of the note. Jones raised several defenses, including fraud by Dell. Bancredit moved for summary judgment, arguing that Bancredit was a holder in due course and that the defenses claimed by Jones against Dell were not available against Bancredit. The evidence showed that: (1) Dell and Bancredit were both wholly owned subsidiaries of Albee Homes, Inc. (Homes); (2) virtually all of Bancredit’s business came from Dell and other Homes subsidiaries; (3) Bancredit prepared the contracts and financing documents used by Dell; (4) Homes and Bancredit had the same officers and directors, and Homes named Dell’s directors and officers; (5) checks issued by Bancredit were countersigned by Homes; and (6) Bancredit preapproved all of Dell’s transactions. The superior court held that Bancredit was a holder in due course and entered a judgment in favor of Bancredit. Jones appealed.

Rule of Law

The rule of law is the black letter law upon which the court rested its decision.

To access this section, please start your free trial or log in.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question.

To access this section, please start your free trial or log in.

Holding and Reasoning (Herrmann, J.)

The holding and reasoning section includes:

  • A "yes" or "no" answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

To access this section, please start your free trial or log in.

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 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.

  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. 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.