Bank can elicit foundational testimony for a business record from a witness even if the witness was not present at the time a document was created, if the witness has a functional understanding of the record keeping process of the business with respect to the specific entry, transaction, or declaration contained in the document
Civil
Blair v. EMC Mortgage, LLC., No. 19S-MF-530, __ N.E.3d __ (Ind., Feb. 17, 2020).
“Indiana’s two applicable statutes of limitations recognize three events triggering the accrual of a cause of action for payment upon a promissory note containing an optional acceleration clause. First, a lender can sue for a missed payment within six years of a borrower’s default. Second, a lender can exercise its option to accelerate and fast-forward to the note’s maturity date, rendering the full balance immediately due. The lender must then bring a cause of action within six years of that acceleration date. Or, third, a lender can opt not to accelerate and sue for the entire amount owed within six years of the note’s date of maturity.”
Collins Asset Group, LLC v. Alialy, No. 19S-CC-531, __ N.E.3d __ (Ind., Feb. 17, 2020).
Lender could recover equally under Ind. Code § 26-1-3.1-118 and Ind. Code § 34-11-2-9 because it filed suit within six years of acceleration.
Shield Global Partners-GI, LLC v. Forster, No. 19A-CC-1100, __ N.E.3d __ (Ind. Ct. App., Feb. 19, 2020).
Indiana recognizes damages for inherent diminished value of personal property.
Schmidt v. Allstate Property & Casualty Ins. Co., No. 19A-CT-1489, __ N.E.3d __ (Ind. Ct. App., Feb. 12, 2020).
An insurer owes a duty of good faith and fair dealing to an insured who is not the policyholder.