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BENEFICIAL FINANCE CO. OF JAMESTOWN v. LAWRENCE

Civ. No. 9811.

301 N.W.2d 114 (1980)

BENEFICIAL FINANCE COMPANY OF JAMESTOWN, Plaintiff and Appellant, v. Bruce LAWRENCE, Defendant and Appellee.

Supreme Court of North Dakota.

Rehearing Denied January 23, 1981.

Attorney(s) appearing for the Case

Solberg, Stewart & Boulger, Fargo, for plaintiff and appellant; argued by John V. Boulger, Fargo.

Hjellum, Weiss, Nerison, Jukkala & Wright, Jamestown, for defendant and appellee; submitted on brief.

PEDERSON, Justice.

This is an appeal by the lender, Beneficial, from a judgment which held that, under the Uniform Commercial Code (Title 41, NDCC), the obligation of the accommodation party, Bruce Lawrence, was discharged because Beneficial unjustifiably permitted the impairment of collateral when it failed to perfect a security interest.1 We do not agree that Beneficial unjustifiably impaired collateral in this case. The judgment is...

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