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WORLD WIDE TRACERS v. METROPOLITAN PROTECTION

No. C6-85-443.

384 N.W.2d 442 (1986)

WORLD WIDE TRACERS, INC., petitioner, Appellant, v. METROPOLITAN PROTECTION, INC., formerly Protection Technologies, Inc., Defendant, Metropolitan State Bank, John Hole, et al., Respondents.

Supreme Court of Minnesota.

April 4, 1986.

Attorney(s) appearing for the Case

Terence P. Durkin, Minneapolis, for appellant.

Jim Lamphere, Bloomington, for Metropolitan State Bank.

Robert M. Smith, Minneapolis, for John & Gloria Hole, Raymond Lundgren.

Heard, considered, and decided by the court en banc.

AMDAHL, Chief Justice.

This case arises from an action brought by appellant, World Wide Tracers, Inc., against respondent, Metropolitan State Bank (bank), Metropolitan Protection, Inc. (debtor), and three guarantors of debtor, to enforce its rights under a security agreement with debtor. The trial court granted bank's motion for summary judgment, declaring that the descriptions of collateral in appellant's security agreement and in the accompanying financing statement...

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