459 F. App'x 847
11th Cir.2012Background
- Lion appeals a district court summary judgment in favor of Tafel on the Note's enforceability.
- Tafel Racing and East Coast Jewelry entered a 2008 purchase agreement for a Ferrari race car; East Coast paid $700,000 in installments but no car was delivered.
- Tafel issued a non-negotiable Note on February 13, 2009 payable to Yampolsky for $600,000 plus interest, secured by a lien on Tafel's residence; Yampolsky later assigned the Note to Lion.
- Tafel has never paid the Note; Lion seeks enforcement or a declaration of enforceability; Tafel seeks a declaration the Note is unenforceable for lack of consideration.
- The district court held the Note lacked consideration and granted summary judgment for Tafel; Lion challenges on grounds of recited consideration and alleged bargained-for exchange, and raises judicial estoppel.
- The Eleventh Circuit applies de novo review to summary judgment and discretionary review to judicial estoppel.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Does the Note have adequate consideration? | Lion argues recitals show consideration and a bargained exchange. | Tafel contends past consideration and lack of bargained-for exchange; no valid consideration. | Note lacks adequate consideration; unenforceable. |
| Did judicial estoppel bar Tafel from challenging the Note? | Lion invokes judicial estoppel based on prior positions. | Tafel argues Lion raised estoppel late and district court isn’t obligated to consider it. | District court did not abuse discretion; no application of judicial estoppel. |
Key Cases Cited
- Gish v. Thomas, 516 F.3d 952 (11th Cir. 2008) (summary judgment standard; de novo review)
- Cruz v. Publix Super Mkts., Inc., 428 F.3d 1379 (11th Cir. 2005) (standard for summary judgment, evidentiary inferences)
- Strickland v. Water Works & Sewer Bd., 239 F.3d 1199 (11th Cir. 2001) (factual inferences in favor of nonmovant)
- Robinson v. Tyson Foods, Inc., 595 F.3d 1269 (11th Cir. 2010) (abuse of discretion standard for judicial estoppel)
- Talavera v. Sch. Bd. of Palm Beach Cnty., 129 F.3d 1214 (11th Cir. 1997) (judicial estoppel principles)