PHILADELPHIA – A Utah-based commercial bank claims a pair of Mississippi defendants possess an unpaid and outstanding balance to it in excess of $14,000, in equipment lease payments and other expenses.
Marlin Business Bank of Salt Lake City, Utah filed suit in the Philadelphia County Court of Common Pleas on March 13 versus Bim Bam Burgers, LLC of Oxford, Miss. and Yerby B. Weaver, of Batesville, Miss.
MBB is a direct lender that provides financing to businesses in order for them to purchase new equipment and technology. On or about June 12, 2016, Bim Bam Burgers executed and delivered to MBB an equipment lease contract, which provided for the lease for and payments to be made by Bim Bam Burgers – supplemented by a personal guaranty of payment from Weaver, the suit says.
The lawsuit says Bim Bam Burgers breached the lease and Weaver breached the guaranty by failing to make the loan and other payments leading to default, which caused MBB to accelerate the remaining payments and to demand immediate presentation thereof. According to the agreement’s forum selection clause, the laws of the Commonwealth of Pennsylvania govern the agreement and direct each participant to waive any right to a jury trial, the suit says.
“Despite repeated demands for payment, Bim Bam Burgers and Weaver have failed and refused to pay the loan payments due in accordance with the terms of the agreement to MBB,” the suit says.
MBB says the defendants are liable to it for the following expenses:
a.) Past Due Payments – $981
b.) Past Due Sales Taxes – $68.67
c.) Accelerated Balance (discounted to PV) – $12,094.84
d.) Residual – $1
e.) Sales Tax on Accelerate and Residual – $846.71
f.) Late Charges – $157.44
g.) Insurance Fees – $86.13
Total – $14,235.79
Per the terms of the lease, MBB is entitled to expenses of enforcement, which so far is $500.00 and currently accruing as the action proceeds, the suit says.
For counts of breach of contract, promissory estoppel/detrimental reliance, unjust enrichment and quantum meruit, the plaintiff is seeking damages in the amount of $14,735.79, plus additional fees, cost of suit, interest and such other and further relief as the Court deems just and proper in this matter.
The plaintiff is represented by Edward R. Dietz Jr. of Marlin Business Bank, in Mount Laurel, N.J.
Philadelphia County Court of Common Pleas case 180301161
From the Pennsylvania Record: Reach Courts Reporter Nicholas Malfitano at firstname.lastname@example.org