Chap017Cases

The Legal and Regulatory Environment of Business

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Case 17 Case 17-1 (Chapter 17-1, p. ) ANDERSON v. FOOTHILL INDUSTRIAL BANK 674 P.2d 232 (Wyo. 1984) FACTS: The plaintiffs are owed $27,500 from the defendant bank for startup expenses in establishing a mail delivery route. In refinancing the loan they found the bank had failed to comply with the law by misrepresenting the annual percentage rate of the loan. They sued the bank. ISSUE: Are the plaintiffs consumers under Wyoming's law? DECISION: No REASON: The plaintiffs did not borrow the money for personal, family, household, or agricultural purposes as specified by Wyoming's Uniform Consumer Credit Code. Case 17-2 (Chapter 17-2, p. ) SAFECO INSURANCE CO. v. BURR 127 S. Ct. (2007) FACTS: Safeco Insurance Company and Geico issued automobile insurance policies to three applicants without telling them that the companies had obtained credit reports on the applicants. The applicants sued under the Fair Credit Reporting Act. ISSUE:
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Chap017Cases - Case 17 Case 17-1 (Chapter 17-1, p. )...

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