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BANK OF BEAVER CITY v. BARRETTS' LIVESTOCK

No. 109,190.

295 P.3d 1088 (2012)

2012 OK 89

The BANK OF BEAVER CITY, Plaintiff/Appellee, v. BARRETTS' LIVESTOCK, INC., Defendant/Appellant. Tri-State Feeders, Inc., Defendant/Third-Party Plaintiff, v. Jon Dane Morris, Third-Party Defendant.

Supreme Court of Oklahoma.

October 30, 2012.

Attorney(s) appearing for the Case

Douglas L. Jackson , Julia C. Rieman , Enid, Oklahoma, for Defendant/Appellant.

Michael C. Bigheart , W. Blake Hulse , Enid, Oklahoma, for Plaintiff/Appellee.

KAUGER, J.:

¶ 1 The dispositive issue presented is whether the good faith requirement of 12A O.S.2011 § 2-403 extends to third parties — in this case an unpaid seller of cattle — and requires that the third party be notified of a debtor's financial condition.1 We hold that it does not.

¶ 2 Bank alleges that on August 9, 2004, it perfected a security interest in all of Lucky Moon's livestock, including...

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