(Download) "Compass Bank V. Mfp Financial Services" by In the Court of Appeals Fifth District of Texas at Dallas ~ Book PDF Kindle ePub Free

January 25, 2021

eBook details

Title: Compass Bank V. Mfp Financial Services
Author : In the Court of Appeals Fifth District of Texas at Dallas
Release Date : January 12, 2005
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 76 KB

Description

MFP Financial Services, Inc. f/k/a MFP Technology Services, Inc. (MFP) and Webb Cooley Company, Inc. (Webb Cooley) entered into a settlement agreement resolving disputes between them. Despite Webb Cooley's undisputed material breach of the settlement agreement, the purchaser of Webb Cooley's accounts receivables, Compass Bank, sued MFP based on the settlement agreement. After a bench trial, the trial court entered a take-nothing judgment in favor of MFP. In nine issues, Compass Bank challenges the trial court's findings of fact and conclusions of law in favor of MFP on MFP's affirmative defenses and claims for offsets, and on Compass Bank's own affirmative defense of election of remedies. Compass Bank also argues the trial court erred in not entering a money judgment in its favor. We conclude the trial court did not err in: (1) denying Compass Bank's untimely motion for new trial; (2) holding that MFP had proved its affirmative defense of prior material breach; and (3) holding that Compass Bank was precluded from asserting its affirmative defense of election of remedies or, alternatively, that Compass Bank's affirmative defense failed. We therefore affirm the trial court's judgment.