Wales v. Arizona RV Centers LLC
United States District Court for the Eastern District of Louisiana
2015 WL 137260 (2015)
The FTC's holder-in-due-course rule permits buyers to make affirmative claims against lenders when a substantial breach by the seller warrants rescission of the sales agreement.
Relevant Facts
Lyle and Judy Wales purchased an RV from Arizona RV Centers LLC (Camping World), with financing assigned to Bank of America (BOA). The RV had significant mechanical and defect problems, leading the Waleses to seek rescission of the purchase agreement and sue Camping World, BOA, and Keystone RV Company for rescission and collateral costs.
Issue
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Holding & Reasoning
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Concurrence
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Dissent
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Last updated:
December 8, 2023
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Procedural History
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Citations
2015 WL 137260 (2015)