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FIRST NAT. BANK v. FARMERS UNION MARKETING

No. C2-85-214.

371 N.W.2d 22 (1985)

FIRST NATIONAL BANK OF LeCENTER, Respondent, v. FARMERS UNION MARKETING AND PROCESSING ASSOCIATION, Appellant.

Court of Appeals of Minnesota.

Review Denied September 26, 1985.

Attorney(s) appearing for the Case

Donald H. Spartz, LeCenter, for respondent.

James H. Turk, Mankato, for appellant.

Heard, considered, and decided by SEDGWICK, P.J., and WOZNIAK and RANDALL, JJ.

OPINION

WOZNIAK, Judge.

Respondent First National Bank of LeCenter (First National) sued appellant Farmers Union Marketing and Processing Association (Farmers Union) for conversion of livestock. Farmers Union purchased the livestock, in which the bank had a valid, perfected security interest, from a farmer. Farmers Union alleged that the bank had authorized the farmer to sell the livestock, thereby waiving its security interest pursuant to Minn.Stat. §...

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