Holt v. Ellsworth Farmers Union Co-Op

Mark Holt appeals from a deficiency judgment against him and in favor of the Ellsworth Farmers Union Co-op. Holt borrowed money from the Co-op to buy a truck. After he defaulted on the loan, the Co-op repossessed the truck and sold it for cash and three trade-in vehicles. Holt contends that the truck’s sale price was the cash received, plus the allowance given for the trade-in vehicles when the Co-op received them rather than the sale price of the trade-ins. This would result in a surplus rather than a deficiency. Holt also contends that a portion of the Co-op’s claimed expenses were not…