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POIRIER v. PEOPLES STATE BANK

No. 87-0160.

142 Wis.2d 269 (1987)

418 N.W.2d 631

Golden POIRIER and Bernadean Poirier, Plaintiffs-Respondents, v. PEOPLES STATE BANK, Defendant-Appellant.

Court of Appeals of Wisconsin.

Decided November 21, 1987.

Attorney(s) appearing for the Case

For defendant-appellant there was a brief by Kenneth Wm. Jost and Randi L. Osberg of Jost Law Offices, of Chetek.

For plaintiffs-respondents there was a brief by Daniel M. Smetana, Altoona.

Before Cane, P.J., LaRocque and Myse, JJ.

MYSE, J.

Peoples State Bank appeals an order granting summary judgment in favor of Golden and Bernadean Poirier. The issue is whether Peoples State Bank possessed either a security interest in the Poiriers' certificate of deposit or properly exercised its right of setoff against those funds entitling it to refuse payment upon demand. Because we conclude that the bank had no valid security interest in the certificate of deposit and failed to properly exercise its right...

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