Knoxville Legal Blog

Creditors that have entered into a valid security agreement with debtors do have the right to self-help repossession when such a debtor defaults. In this instance, the creditor can bypass the court system and take matters into their own hands to regain possession of their collateral. This rule is encompassed by the Uniform Commercial Code and furthermore adopted by the State of Tennessee in Tenn. Code Ann. § 47-9-609(b)(2). That being said, creditors often do not apply the proper procedures and may unknowingly open up the possibility of being sued as a result of repossessing the collateral subject to the security agreement.

In order to properly repossess collateral that is subject to a security agreement, a creditor cannot "breach the peace." While it is likely obvious that a breach of the peace would encompass some type of violent act, such as pushing, fighting or some other outrageous encounter between the debtor and creditor (similar to what is seen on television shows), it is actually fairly easy for a breach of the peace to occur. All it takes to be considered a breach of the peace is for the debtor to orally protest or object to the creditor's repossession of the collateral, physical violence is not necessary. For example, if a creditor went to repossess a debtor's car and the debtor were to merely say "no," but the creditor continued to carry out the repossession, the creditor could be found guilty of breaching the peace.

Under Tennessee law, a Conservator is "a person or persons or an entity appointed by the court to exercise the decision-making rights and duties of the person with a disability in one or more areas in which the person lacks capacity as determined and required by orders of the court." Tenn. Code Ann. §34-1-101(4)(B). Similar to a conservator, but not quite the same, is a Guardianship. In Tennessee a Guardian, or coguardian, is defined as "a person or persons appointed by the court to provide partial or full supervision, protection and assistance of the person or property, or both, of a minor." Tenn. Code Ann. §34-1-101(10). It is important to realize the difference between a Conservator and a Guardian. A Conservator protects any person, regardless of age, who is disabled in a way that affects their capacity. A guardianships purpose is to protect a minor child; they automatically do not have capacity based on their age.

The unfortunate passing of "The Queen of Soul", Aretha Franklin, has left her fans grieving, but has left her grieving family to divide her estimated $80 million-dollar estate without the help of an estate plan. Aretha Franklin passed away intestate, in other words, without a will. This means the state in which she is domiciled will determine the distribution of her estate through the state's intestacy laws.

There are many advantages to having a will as opposed to dying intestate. The first, is saving time and money when distributing your assets. The process of probate without a will, can potentially be a lengthy and expensive process, and the costs are typically paid out of the estate. With a will, the Probate Court will more likely have an easier time distributing your assets, because the assets and who they are being distributed to, will be set forth in the will document, helping prevent any potential disputes of who should get what assets. As a result of a speedier probate process, less money will be spent for attorney fees, executor/ administrator fees, accountant fees, and the like, potentially saving your descendants more money by taking less money away from the estate.

Let us say that one of your chief competitors has reported a theft of trade secrets in the form of their customer and supplier lists.

Since you are in the same line of business, they are leveling their accusations at your company, specifically, at your domestic sales department.