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NATE LEASING CO., INC. v. WIGGINS

No. 55728-4.

114 Wn.2d 508 (1990)

789 P.2d 89

NATE LEASING CO., INC., Appellant, v. GARY K. WIGGINS, ET AL, Respondents.

The Supreme Court of Washington, En Banc.

April 12, 1990.

Attorney(s) appearing for the Case

Jeffrey L. Jernegan and Julie Marshall Johnson (of Mikkelborg, Broz, Wells & Fryer), for appellant.

Terence P. Lukens and Paul R. McDonald (of Karr Tuttle Campbell), for respondents.

DURHAM, J.

The present case tests the exclusivity of the Ship Mortgage Act, 1920, 46 U.S.C §§ 911-984, which grants preferred status to ship mortgages perfected under the act. The trial court dismissed plaintiff's action on summary judgment and declared a deficiency unavailable. It ruled that the Ship Mortgage Act is not exclusive, and that federal law, rather than state law, governs the nonjudicial foreclosure of a preferred ship's mortgage. We hold that...

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