BANK OF LEXINGTON v. JACK ADAMS AIRCRAFT SALES, INC.

No. 76-2600.

570 F.2d 1220 (1978)

BANK OF LEXINGTON, Plaintiff-Appellant, v. JACK ADAMS AIRCRAFT SALES, INC., Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

April 4, 1978.


Attorney(s) appearing for the Case

Charles L. Sullivan, Clarksdale, Miss., for plaintiff-appellant.

Jack Adams Aircraft Sales, Inc., pro se.

Before INGRAHAM, GEE and TJOFLAT, Circuit Judges.


INGRAHAM, Circuit Judge:

This dispute arises out of a complex series of transactions for the sale and financing of aircraft. Summary judgment was rendered against the purchaser's financier who had sued the seller for foreclosing upon the airplane his client had bought. The summary judgment rested upon the explicit trial court finding that the security interest relied upon by the financier was invalid for lack of consideration, and upon the implicit assumption that...

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