Davies MacHinery Co. v. Pine Mountain Club, Inc.

Opinion

FRANSON, J.

Prior to April 15, 1969, W. J. and Paul Smith (“the Smiths”) had leased and purchased on a time basis various pieces of earth-moving equipment from the respondent, Davies Machinery Co. (“Davies”). They had dealt with each other off and on over a period of some 25 years. On April 15, 1969, the parties entered into a security agreement for the purchase of 12 pieces of new equipment plus other equipment which had been previously purchased under various security agreements. On September 15 this contract was superseded by a new security agreement covering all the equipment…