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WILBANKS & WILBANKS, INC. v. COBB

No. CA 80-111.

601 S.W.2d 601 (1980)

WILBANKS & WILBANKS, INC., and First Bank and Trust of Jonesboro, Appellants, v. Bill COBB, Appellee.

Court of Appeals of Arkansas.

July 9, 1980.

Attorney(s) appearing for the Case

Mooney & Boone by Joe C. Boone, Dennis M. Zolper, Jonesboro, for appellants.

Warren E. Dupwe, P. A., Jonesboro, for appellee.

HAYS, Judge.

This is a case involving conflicting claims to the remaining proceeds of a fire insurance policy. Appellant, Wilbanks & Wilbanks, Inc., entered into a contract to purchase a dental laboratory business from appellee, Bill Cobb. The total purchase price was $35,000.00, and the contract valued the equipment at $20,000.00. Subsequently, appellant entered into a security agreement with appellee covering "all equipment and inventory located at 215 East...

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