Cooperative Finance Ass'n v. B & J Cattle Co.

Opinion by

Judge ROY.

Defendants, B & J Cattle Co. and its agent, Brett Bybee, (collectively B & J) appeal a summary judgment in favor of plaintiff, The Cooperative Finance Association, Inc., (Cooperative). We affirm.

Cooperative is the holder of a promissory note given by MRC-Sheaf Corporation (MRC), which was historically involved in the feeding and finishing of cattle. The promissory note is secured by, among other things, all of MRC’s livestock “whether now owned or hereafter acquired by [MRC] and wherever located.”

The security interest of Cooperative was evidenced by a security agreement…