Study Aids
Case Briefs Overview
Casebooks
Case Briefs
M

M & M Leasing Corp. v. Seattle First National Bank

563 F.2d 1377 (1977)

From our private database of 46,400+ case briefs, written and edited by humans—never with AI.

M & M Leasing Corp. v. Seattle First National Bank

United States Court of Appeals for the Ninth Circuit
563 F.2d 1377 (1977)

  • Written by Robert Cane, JD

Facts

Seattle First National Bank (Seattle First) and Peoples National Bank of Washington (Peoples Bank) (defendants) were in the business of motor-vehicle leasing and the leasing of other personal property. The Office of the Comptroller of the Currency (the comptroller) (defendant) approved of the practice of leasing by First National and Peoples Bank. M & M Leasing Corporation and several other companies (leasing companies) (plaintiffs) were primarily in the business of motor-vehicle leasing. A motor-vehicle lease functions as follows. Car dealers generate leases pursuant to an agreement that a bank will lease the automobile to a dealer’s customer. The lessee assumes all operating costs and risks. The bank extends credit, which is secured by a lien on the underlying property (i.e., the automobile). The leasing companies sued Seattle First, Peoples Bank, and the comptroller, arguing that the leasing of motor vehicles and other personal property is not authorized by the National Bank Act. The district court entered judgment in favor of the leasing companies and enjoined the banks from engaging in certain leasing transactions. Seattle First, Peoples Bank, and the comptroller appealed.

Rule of Law

Issue

Holding and Reasoning (Sneed, 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 832,000 law students since 2011. Some law schools 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 832,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,400 briefs, keyed to 994 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 832,000 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
  • 46,400 briefs - keyed to 994 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

Banking Law

Key Terms