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In Landers Auto Group Number One, Inc. v. Continental Western Ins. Co., No. 09-2783, an action seeking indemnity and defense under an insurance contract, the court affirmed summary judgment for defendant where defendant-insurer had no duty to defend the Truth in Lending Act claims in the underlying action, because the plain language of the word "accident" when read in context with the policy made it clear the policy referred to physical accidents as opposed to accounting errors.
As the court wrote: "At all times relevant to this suit, Landers Auto maintained comprehensive liability insurance for its auto dealership with Continental Western. In 2003, Landers sold a car to Latwanna Clark. The car was financed by Toyota Motor Corporation (TMC) and Landers guaranteed the loan as part of a special financing incentive it was offering to buyers at the time. Clark alleged that TMC failed to credit several of her payments and listed her as delinquent on the loan. When TMC contacted Landers as guarantor, Landers paid the loan in full and repossessed the car. Clark sued Landers and TMC, alleging wrongful repossession and conversion (for repossessing and reselling the car when Clark claims she was not in default) and violations of the Arkansas Deceptive Trade Practices Act (for failing to credit payments on an open account and for repossessing and selling the car when Clark was not in default.)"