Securities Acceptance Corp. v. Valencia

COMPTON, Chief Justice.

The question presented is whether the action was correctly terminated by summary judgment of dismissal. Involved is Section 6(2) (3) (a) (b), Chapter 151, Laws 1947, Section 50-13-6(2) (3) (a) (b), 1953 Compilation, the Uniform Trust Receipt Act. Since the section has been repealed, Chapter 96, Article 10, Laws 1961, we quote its pertinent provisions:

“2. An entruster entitled to possession under the terms of the trust receipt or of subsection 1 may take such possession without legal process, whenever that is possible without breach of the peace.

“3. (a) After possession…