Timberline Lumber,Inc

question 63

Essay

Timberline Lumber,Inc.,sued Teal Developers,Inc.,because Teal had failed to pay a $43,000 bill owed to Timberline.Both companies are incorporated in Montana and operate only in Montana.Timberline lost at the trial and now wants to appeal the decision.Answer the following questions:
a.What court would have jurisdiction over the suit?
b.Who is the plaintiff? Who is the defendant?
c.On appeal,who is the appellant?
d.What grounds would cause the appellate court to reverse?

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Definitions:

Compounded Monthly

A method of calculating interest where the accrued interest is added to the principal sum each month, so that each subsequent interest calculation is made on a slightly higher amount.

Compounded Annually

The practice of calculating and adding interest to the initial amount of money once every year, increasing the future accruals of interest.

Amortized

Amortized refers to gradually reducing the principle amount owed on a debt over time through a fixed repayment schedule.

Compounded Monthly

Interest on an investment or loan calculated each month and added to the principal, affecting the amount of future interest.