First National Bank of Denver City v. Brewer

REYNOLDS, Chief Justice.

With eight points of error, First National Bank of Denver City challenges the trial court’s judgment decreeing that Dallas M. Brewer’s security interest in proceeds from the sale of equipment had priority over its security interest in the same collateral. For the reasons to be stated, we will overrule the points and affirm.

Evidence adduced upon a bench trial was that in January of 1981, Dallas M. Brewer sold his 100% stock ownership in Westwind Gas Company, Inc. to Bill C. Hays for $215,000. Hays agreed to pay for his purchase of Westwind by advancing $62,350 in cash…