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ALASKA STATEBANK v. FAIRCO

No. 6720.

674 P.2d 288 (1983)

ALASKA STATEBANK, Appellant, v. FAIRCO, a partnership d/b/a Clowntown, and James L. Dodson, Ronald M. Henry, and Andrew S. Warwick, Appellees.

Supreme Court of Alaska.

November 25, 1983.

Attorney(s) appearing for the Case

David W. Oesting, Davis, Wright, Todd, Riese & Jones, Anchorage, and Mary A. Nordale, Fairbanks, for appellant.

James A. Parrish and Lance C. Parrish, Parrish Law Office, Fairbanks, for appellees.

Before BURKE, C.J., RABINOWITZ, MATTHEWS and COMPTON, JJ., and TUNLEY, Superior Court Judge.

OPINION

RABINOWITZ, Justice.

In this case Fairco, the debtor, filed suit against Alaska Statebank (Statebank), the secured creditor, for damages allegedly sustained when Statebank proceeded against the collateral which secured Fairco's delinquent obligation to the bank. Fairco claimed that the course of negotiations between the parties had altered Statebank's rights under Alaska's version of the Uniform Commercial Code (UCC) and the written security agreement...

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