System Soft Technologies, LLC v. Artemis Technologies, Inc.

837 N.W.2d 449 (2013)

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

System Soft Technologies, LLC v. Artemis Technologies, Inc.

Michigan Court of Appeals
837 N.W.2d 449 (2013)

RW

Facts

Summit Community Bank (Summit) held a perfected security interest in the accounts receivable and other assets that Artemis Technologies, Inc. (Artemis) (defendant) used as collateral to secure a loan from Summit. Summit’s security agreement with Artemis confirmed all the rights of a secured creditor under the Uniform Commercial Code (UCC). In addition, the security agreement stipulated that Summit “shall have and may exercise” any or all other rights and remedies available to lenders. Artemis could not keep up with its loan repayments. Summit knew that Artemis could repay its debt only by remaining in business. Therefore, Summit entered into a forbearance agreement that declared Artemis in default and accelerated Artemis’s payment schedule but that also suspended Summit’s right to foreclose on Artemis’s assets. Thereafter, Artemis made timely payments on its loan balance. In the meantime, System Soft Technologies, LLC (SST) (plaintiff) obtained a trial court’s judgment against Artemis on an unrelated matter. SST attempted to execute that judgment by serving court writs to garnish Artemis’s accounts receivable. Summit moved to intervene in the case. The court granted the motion, as well as a temporary restraining order staying execution of the garnishment writs. SST appealed to the Michigan Court of Appeals.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

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 811,000 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 811,000 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 811,000 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

Commercial Law

Key Terms