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FMA FINANCIAL CORP. v. PRO-PRINTERS

No. 15595.

590 P.2d 803 (1979)

FMA FINANCIAL CORPORATION, d/b/a FMA Leasing Company, Plaintiff and Appellant, v. PRO-PRINTERS, John Galanis, Jerry DeTurk, John Coady, James G. Manton, and Robert Galanis, Defendants and Respondents.

Supreme Court of Utah.

January 15, 1979.

Attorney(s) appearing for the Case

Milo S. Marsden, Jr., of Bradford, Marsden & Liljenquist, Salt Lake City, for plaintiff and appellant.

Roy G. Haslam, George E. Bridwell, Salt Lake City, for defendants and respondents.

MAUGHAN, Justice:

This action presents a question of first impression before us, viz., whether a lease of personal property is actually a secured sale and therefore subject to the secured transactions provisions of the Uniform Commercial Code. The district court found the lease to be intended for security, and that the plaintiff failed to comply with the default provisions of Article 9 of the Code. It thus denied plaintiff any deficiency judgment, the amount of which...

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