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LISBON BANK AND TRUST COMPANY v. MURRAY

No. 55484.

206 N.W.2d 96 (1973)

LISBON BANK AND TRUST COMPANY, Appellant, v. Richard MURRAY, Appellee, v. Glenn MEIER and Joan Meier, Appellees and Defendants to Cross-Petition.

Supreme Court of Iowa.

Rehearing Denied May 17, 1973.

Attorney(s) appearing for the Case

R. B. Wolfe, Mount Vernon, for appellant.

McLaughlin & Beckmann, Anamosa, for appellee Richard Murray.

Heard before MOORE, C. J., and RAWLINGS, REYNOLDSON, HARRIS and McCORMICK, JJ.

McCORMICK, Justice.

This appeal involves a problem under the Uniform Commercial Code arising out of a sale of cattle. Plaintiff Lisbon Bank and Trust Company loaned defendants to cross-petition (Glenn Meier and Joan Meier) $6620.00 on January 15, 1969, to purchase 48 Holstein heifers and received a duly perfected security interest in the cattle. On March 25, 1969, Glenn Meier sold 12 of the heifers to defendant Richard Murray for $2428.80. Subsequently the Meiers...

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