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WESTERN BANK v. MATHERLY

No. 16725.

738 P.2d 903 (1987)

106 N.M. 31

WESTERN BANK, a New Mexico Banking Corporation, plaintiff-appellant, v. Gene MATHERLY and Melba Matherly, his wife; Richard H. MacAllister and Vivian I. MacAllister, his wife, Defendants-Appellees.

Supreme Court of New Mexico.

Rehearing Denied July 13, 1987.

Attorney(s) appearing for the Case

Burroughs & Rhodes, Jefferson R. Rhodes, Alamogordo, for plaintiff-appellant.

S. Thomas Overstreet, Alamogordo, for defendants-appellees.

OPINION

RANSOM, Justice.

This is an action for declaratory judgment filed in the district court of Otero County to determine the conflicting security interests of Western Bank and Gene and Melba Matherly (Matherly) as those interests may have been affected by the law of contracts and the secured transactions sections of the Uniform Commercial Code (UCC), NMSA 1978, Sections 55-9-101 to 55-9-507 (Orig.Pamp. and Cum.Supp. 1986). Plaintiff Western Bank, asserting...

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