791 F.2d 935 (6th Cir. 1986), 85-1203, Scot Lad Foods, Inc. v. Ames Food Market, Inc.
|Citation:||791 F.2d 935|
|Party Name:||SCOT LAD FOODS, INC., a Delaware corporation and its subsidiary corporations, LAKE END SALES, INC.; CUSTOM MERCHANDISERS, INC., EVANSVILLE FOOD DISTRIBUTORS, INC., GARDEN CITY FOODS, INC., and REDT-FROZ, INC., Plaintiffs-Appellees, v. AMES FOOD MARKET, INC.; KENNETH C. AMES, Individually and as President of AMES FOOD MARKET, INC.; BETTY E. AMES, In|
|Case Date:||April 07, 1986|
|Court:||United States Courts of Appeals, Court of Appeals for the Sixth Circuit|
This opinion appears in the Federal reporter in a table titled "Table of Decisions Without Reported Opinions". (See FI CTA6 Rule 28 and FI CTA6 IOP 206 regarding use of unpublished opinions)
ON APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF MICHIGAN
BEFORE: ENGEL, CONTIE and MILBURN, Circuit Judges.
Defendants Ames Food Market, Inc., et al. ('Ames') appeal the jury verdict for plaintiffs Scot Lad Foods, Inc., et al. ('Scot Lad') in this diversity action to collect on a judgment. Finding no reversible errors by the district court, we affirm.
Scot Lad is a Delaware corporation engaged in the sale of groceries wholesale. In July, 1977, Ames began purchasing groceries from Scot Lad for resale and gave Scot Lad a security interest in its inventory. Ames also obtained equipment from Scot Lad pursuant to a five-year lease. After rectifying arrears in its payments to Scot Lad for purchased groceries in March, 1978, Ames became delinguent to Scot Lad under the equipment lease.
Thereafter, the parties entered into an agreement for the entry of a consent judgment in which Ames acknowledged that its payments were delinguent and agreed to accelerate payments such that the total amount due under the lease, $142,150.12, would be paid in just over two years. Ames also agreed to maintain specified minimum inventory levels in order to secure the debt. The consent judgment agreement specifically provided that the agreement did not supercede the prior security agreement, and, further, Scot Lad had the right to enforce the judgment 'in any lawful manner' upon Ames' default.
Although originally presented in a different form to the district court for entry on or about May 25...
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