[DOWNLOAD] "Mechanics National Bank Worcester v." by Supreme Judicial Court of Massachusetts # eBook PDF Kindle ePub Free
eBook details
- Title: Mechanics National Bank Worcester v.
- Author : Supreme Judicial Court of Massachusetts
- Release Date : January 17, 1979
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 79 KB
Description
Under promissory notes whereby the borrower pledged certain shares of stock as security and agreed to deliver additional security or make payments on account to the bank's satisfaction, if the bank should deem the security already given to be insufficient, and which further provided that the borrower's obligations would, at the option of the bank, become immediately due and payable if the bank considered itself insecure, the borrower's obligations were not accelerated automatically when the bank deemed itself insecure and the bank did not have the right to foreclose on the stock without affording the borrower notice that the notes were due and a reasonable opportunity to satisfy his obligations. [106-108] A bank's sale of stock pledged as security for certain loans, in the erroneous belief it had the right to sell it, did not constitute an unfair act within the meaning of G. L. c. 93A, § 2(a). [108-110]