SOUTHERN READY MIX v. AmSOUTH BANK

89-1607.

576 So.2d 188 (1991)

SOUTHERN READY MIX, INC., and Batey & Sanders, Inc. v. AmSOUTH BANK, N.A.

Supreme Court of Alabama.

February 1, 1991.


Attorney(s) appearing for the Case

John R. Frawley, Jr., Irondale, for appellants.

William B. Hairston, Jr. and Judith C. D'Allessandro of Engel, Hairston & Johanson, Birmingham, for appellee.


MADDOX, Justice.

This appeal is from an interpleader action in which two unsecured creditors challenged another creditor's assertion that it is secured by a security agreement. The specific issue is whether the trial court, in entering a summary judgment in favor of AmSouth Bank, N.A., properly held that AmSouth's security agreement was valid and enforceable against two unsecured creditors because of a so-called "dragnet" provision in the security agreement.

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