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SECURITY BANK v. CHIAPUZIO

CC 85-712; CA A36872; SC S33920.

747 P.2d 335 (1987)

304 Or. 438

SECURITY BANK, an Oregon Banking Corporation, Respondent On Review, v. Robert CHIAPUZIO, Individually and As Trustee of Robert Chiapuzio, M.D., P.C., Defined Benefit Pension Plan and Trust, Petitioner On Review, Henry K. Bunnell and Kandice Bunnell, Husband and Wife, Defendants.

Supreme Court of Oregon, In Banc.

Decided December 15, 1987.

Attorney(s) appearing for the Case

John H. Draneas, of John H. Draneas & Associates, P.C., Portland, argued the cause and filed the petition for petitioner on review.

Martin E. Stone, of Slack, Stone and Gillespie, Coquille, argued the cause and filed a response to the petition for respondent on review.

JONES, Justice.

The issue in this case is whether the assignment of a vendor's security interest in a land sale contract, together with his interest in the land subject to the contract, all for the purpose of securing a loan, is a security interest covered by Article 9 of the Uniform Commercial Code (UCC) and therefore required to be recorded under ORS 79.1010 to 79.5070 (hereafter referred to as Article 9). The Court of Appeals held that it was not. Security Bank...

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