(Download) "Slide-A-Ride of Las Cruces Inc. v. Citizens Bank of Las Cruces" by New Mexico Supreme Court # eBook PDF Kindle ePub Free

eBook details

Title: Slide-A-Ride of Las Cruces Inc. v. Citizens Bank of Las Cruces
Author : New Mexico Supreme Court
Release Date : January 04, 1987
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 70 KB

Description

On January 21, 1981, the Small Business Administration authorized a $150,000 loan to plaintiff Slide-A-Ride of Las Cruces, Inc. (Slide) for the purchase of land and construction expenses. Defendant Citizens Bank of Las Cruces, Inc. (Citizens) an approved lender with the SBA, agreed to make an interim loan to Slide to be followed by a permanent loan guaranteed by the SBA. While construction on the ride was in progress, Citizens advanced $66,250 directly to Slides contractor. Slide alleges this was done without its approval, without a joint payee check, and without a certificate that the work had been completed. According to Slide, the advancement was in contravention of the Slide-Citizens contract, and the contractor was not entitled to payment.