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SPRANGERS v. FUNDAMENTAL BUSINESS TECH.

No. C8-87-836.

412 N.W.2d 47 (1987)

James R. SPRANGERS, Appellant, v. FUNDAMENTAL BUSINESS TECHNOLOGY, INC., et al., Respondents.

Court of Appeals of Minnesota.

Review Denied November 18, 1987.

Attorney(s) appearing for the Case

Vernon J. Vander Weide, Head & Truhn, Minneapolis, for appellant.

Mark J. Briol, Gregory L. Wilmes, Fruth & Anthony, Minneapolis, for respondents.

Heard, considered and decided by HUSPENI, P.J., and FORSBERG and LESLIE, JJ.

OPINION

LESLIE, Judge.

This is an action by appellant James R. Sprangers to obtain stock and warrants pledged as collateral by respondents Fundamental Business Technology, Inc. and its president, Jude Weyrauch, for a $9,000 loan. Sprangers appeals from partial summary judgment granted to respondents, dismissing Sprangers' claim to the extent it was based on Minn.Stat. § 336.9-505(2) (1986). That statute allows a secured party in possession of collateral...

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