From our private database of 14,100+ case briefs...
Madison Capital Company, LLC v. S & S Salvage, LLC
United States District Court for the Western District of Kentucky
765 F. Supp. 2d 923 (2011)
Timothy Smith owned three companies that were in the business of mining. Smith borrowed funds from Community Trust Bank (CTB) in February of 2005 to fund these companies through a $1,500,000 term loan and a $350,000 revolving loan. These loans were secured by the equipment of the mining companies, which included 85 Hemscheidt Shields (Shields). The Shields were metal roof supports that weighed about 15 tons each. In December 2005, Smith sold the Shields as scrap metal. Smith contends that he sold the Shields to S & S Salvage, LLC (S & S) (defendant), who then sold the Shields to River Metals Recycling, LLC (River Metals) (defendant). S & S claims that it was acting as an agent for Smith and only transported the Shields and used S & S’s account for the sale to River Metals on Smith’s behalf. River Metals purchased the Shields without any knowledge of Smith or his mining companies. Madison Capital Company, LLC (Madison) (plaintiff) also loaned Smith and his company funds and eventually purchased CTB’s security interest from February 2005 through an assignment. Madison sued S & S and River Metals for conversion. Each of the parties moved for summary judgment.
Rule of Law
Holding and Reasoning (McKinley, 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 218,000 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.