[Download] "State Alaska v. First National Bank" by Supreme Court of Alaska * eBook PDF Kindle ePub Free
eBook details
- Title: State Alaska v. First National Bank
- Author : Supreme Court of Alaska
- Release Date : January 05, 1981
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
The State of Alaska, through the Department of Commerce and Economic Development, provides low interest loans to small businesses that meet certain specified eligibility requirements. As 45.95.010-.080. In the spring of 1978 Carl E. Jones, owner of a logging business known as Jones & Sons, Inc., applied for a loan under this program. On November 22, 1978, the State approved a loan in the amount of $150,000 to Jones, subject to three conditions: 1) visual inspection by a State official of the equipment that was to serve as collateral, 2) insurance coverage on the equipment, and 3) execution of an assignment to the State of Joness interest in contracts he had entered into with M & S Forest Products, Inc. The third of these conditions was not satisfied and, consequently, the loan was not closed on December 6, 1978, as had been intended.
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