Barden v. Junior College District No. 520

How later courts describe this case

• cash from second mortgage on residence to meet payments on investment property is not consumer transaction
• where transaction was for a business purpose, statute providing for right of rescission was not applicable, even though mortgage was placed on property
• cash from second mortgage on personal residence to meet payments on rental property is a commercial transaction
• truck purchase for personal as well as business use is a consumer credit transaction
• cash used to make payments on an investment property is not a consumer loan
• crew member aboard vessel was crushed when operator of a platform crane lost control of a welding machine; indemnify agreement did not contemplate this type of injury caused during unloading
• mortgage placed on debtor’s own residence in order to avoid foreclosure on rental property they owned was not consumer transaction but was to extend a past due obligation on investment property and hence was commercial