Reeves v. Foutz And Tanner, Inc.

617 P.2d 149 (1980)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

Ps are uneducated Navajo Indians whose ability to understand English and commercial matters are limited. Each pawned jewelry with D whereby they received a money loan in return for a promise to repay the loan in thirty days with interest. The Indian jewelry left with D as collateral was worth several times the amount borrowed. Ps defaulted and D sent each of them a notice of intent to retain the collateral, though P claimed she never received notice. The retention was not objected to by either P. D then sold the jewelry in the regular course of its business. D did not provide an accounting. Ps sued D for the surplus from the sale of the jewelry. The trial court found for Ps. The appeals court reversed for D and Ps appealed.