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EVANS PRODUCTS CO. v. JORGENSEN

245 Or. 362 (1966)

421 P.2d 978

EVANS PRODUCTS COMPANY v. JORGENSEN ET AL

Supreme Court of Oregon.

Reversed December 30, 1966.

Attorney(s) appearing for the Case

William M. McAllister, Portland, argued the cause for appellant. With him on the briefs was Manley B. Strayer, Portland.

John W. Whitty, Coos Bay, argued the cause for respondents. With him on the brief were McKeown, Newhouse & Johansen, Coos Bay.

Before PERRY, Presiding Justice, and SLOAN, O'CONNELL, GOODWIN, DENECKE, HOLMAN and LUSK, Justices.

REVERSED.

DENECKE, J.

This suit involves a question of priority under the Uniform Commercial Code (UCC) between a secured party with a "floating lien" and a supplier of raw materials to the debtor.

Coos Plywood manufactures plywood from veneer. Evans Products and Coos Plywood entered into a security agreement in 1963 whereby Evans was the secured party and Coos the debtor. ORS 79.1050(1). The security agreement gave Evans "a security interest in Coos...

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