Nextgear Capital v. International Motors Exchange
Defendants International Motors Exchange, Inc. (doing business as IMEX, Inc. and Glendale Auto Gallery), IMEX Trading Corporation (doing business as IMEX Remarketing), and David Ohanjanyan appeal from a judgment. Plaintiff Nextgear Capital, Inc. had a lending agreement with defendants to provide financing for the purchase of vehicles. Defendants received a line of credit under the agreement, secured by 26 vehicles, and subsequently defaulted on their payments. Plaintiff then sued defendants for breach of written agreement and guaranty, common count, wrongful possession of personal property, and conversion. Following trial, the court found in favor of plaintiff as to the cause of action for conversion of the 26 vehicles.
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