BANK OF BEARDEN v. SIMPSON

No. 91-22.

808 S.W.2d 341 (1991)

305 Ark. 326

BANK OF BEARDEN, Appellant, v. Delton SIMPSON, Darlene Simpson, Letha Simpson, and Gee Owens, Appellees.

Supreme Court of Arkansas.

April 29, 1991.


Attorney(s) appearing for the Case

David L. Sims, Pine Bluff, for appellant.

Don P. Chaney, Jr., Arkadelphia, for appellees.


NEWBERN, Justice.

This mortgage foreclosure case presents a question with which we have not previously dealt. If a lender accepts both personalty and realty as collateral for a loan and, upon default, proceeds first against the personalty in a commercially unreasonable manner, how will the remainder of the debt be calculated and what are the lender's remaining remedies? We hold that if the lender is unable to show that market value or more was obtained for the personalty...

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