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THEO. HAMM BREWING CO. v. FIRST T. & S. BANK

Gen. No. 68-48.

103 Ill. App.2d 190 (1968)

242 N.E.2d 911

Theo. Hamm Brewing Co., a Corporation, Plaintiff-Appellant, v. First Trust & Savings Bank of Kankakee, a Corporation, Defendant-Appellee.

Appellate Court of Illinois — Third Judicial District.

December 11, 1968.

Attorney(s) appearing for the Case

Gray, McIntire & Petersen, of Kankakee, for appellant.

Edwin Sale, of Kankakee, for appellee.

SCHEINEMAN, J.

Harold E. Lape was a beer distributor for the plaintiff. In July of 1962 he obtained a loan from the defendant bank for which he gave a Security Agreement and Consignment covering an inventory of beer in containers, and with an after-acquired property clause. This document was filed with the Secretary of State, together with a Financing Statement as required by law in order to perfect its Security Interest.

Lape failed to keep up his payments...

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