ASSOCIATES ASSET MANAGEMENT LLC v. ANGELA BLACKBURN - Articles

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Posted by: Landry Butler on Mar 22, 2017

Court: TN Court of Appeals

Attorneys 1:

Christopher W. Conner and Roman Reese, Maryville, Tennessee, for the appellant, Associates Asset Management, LLC.

Attorneys 2:

John D. Horne, Memphis, Tennessee, for the appellee, Angela Blackburn.

Judge(s): GOLDIN

This is a breach of contract case. After Appellant purchased a package of default loans, which contained Appellee’s second mortgage note, Appellant waited almost four years to filed suit against Appellee for breach of contract. Appellee raised laches as an affirmative defense. The trial court held that gross laches applied to bar Appellant’s lawsuit. We conclude that the trial court abused its discretion in applying gross laches to bar Appellant’s claim in that Appellee’s injuries were only economic, and Appellee failed to pursue her claims for predatory lending, misrepresentation, and/or lender misconduct. Reversed and remanded.