Hitachi Sales Corp. of America v. Commercial Trust & Savings Bank of Storm Lake

OXBERGER, Chief Judge.

Plaintiff filed suit to recover collateral in which it held a security interest. In its petition, plaintiff asserted that it had delivered goods to defendant Musicland and had not been paid. The petition also contained assertions that defendant Larry Ryan had personally guaranteed payment, that the defendant bank had been tendered custody of the goods, that the bank was required to account to Hitachi for the goods, and that plaintiff has performed all conditions precedent to the filing of this action or that the same had been waived by defendants. Hitachi asked for…