River Valley State Bank v. Peterson

This case involves a dispute between H.O. Peterson, holder of a landlord's lien over his tenant, Thermal Dynamics, Inc.'s, property, and the River Valley State Bank, which had a security interest on the same property. Peterson, by virtue of his landlord's lien, took possession of the tenant's property and sold some of the items without giving proper notice to the bank. After a nonjury trial, the court awarded damages to the bank against Peterson for its lost opportunity to purchase some of the collateral and sell it at a higher price. The narrow issue on appeal relates to the measure of…