AKJ Industries, Inc. v. Mercantile National Bank

OPINION

MATTINGLY-MAY, Judge.

AKJ Industries, Daniel C. Deer, III, and Kenneth D. Burnside (collectively, "AKJ") appeal the trial court's order granting summary judgment in favor of Mercantile National Bank ("Mereantile"). We affirm the trial court.

FACTS AND PROCEDURAL HISTORY

Deer and Burnside formed AKJ in 1988. AKJ became a customer of Mercantile the same year, when it borrowed $300,000 from Mercantile To secure this loan, AKJ gave Mercantile security interests in its inventory, accounts receivable, and equipment. AKJ's'stockholders, Burnside and Deer, executed the security agreements, a…