TRI-EAGLE ENTERPRISES v. REGIONS BANK

CA09-271.

2010 Ark.App. 223

TRI-EAGLE ENTERPRISES, Dewalt Acceptance, Inc., Randall Blythe, and Greta Blythe, Appellants, v. REGIONS BANK, Appellee.

Court of Appeals of Arkansas, Divisions II & III.

Opinion Delivered March 3, 2010.


M. MICHAEL KINARD, Judge.

The appellee, Regions Bank, filed its petition for rehearing following our reversal of the circuit court on the issue of whether the court erred in determining the floor-plan interest rate in this case was unambiguous. Regions had argued in its appellee's brief that the interest rate was clearly fixed because the lending agreement had no "benchmark" by which to calculate a variable rate. We held the clause to be ambiguous. This point was...

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