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MIDLAND BEAN COMPANY v. FARMERS STATE BANK

No. 75-194.

552 P.2d 317 (1976)

MIDLAND BEAN COMPANY, a Colorado Corporation, Plaintiff-Appellant, v. The FARMERS STATE BANK OF BRUSH, a Bank chartered by the State of Colorado, Defendant-Appellee.

Colorado Court of Appeals, Div. II.

As Modified on Denial of Rehearings May 6, 1976.

Attorney(s) appearing for the Case

Geddes, Sparks, MacDougall & McHugh, P. C., M. E. MacDougall, Colorado Springs, for plaintiff-appellant.

C. H. Anderson, Edgar H. Brandenburg, Robert B. Chapin, Brush, for defendant-appellee.

Selected for Official Publication.

STERNBERG, Judge.

Brush Elevator Company borrowed money from defendant, Farmers State Bank of Brush, which took and duly perfected a security interest in the assets of Brush Elevator. When Brush Elevator defaulted, the bank, as secured creditor, took possession of Brush Elevator's assets for the purpose of liquidating the business. Plaintiff, Midland Bean Company, alleged ownership of beans which it had bought but not received...

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