Cadle Co. v. Friedman

COOK, Justice.

The Cadle Company appeals from a judgment in favor of Barbara Friedman in Cache's action seeking to recover money due pursuant to a note and a lease executed by Friedman and to repossess a crane that had served as collateral.

On June 7, 1984, Swaland, Inc., purchased for $110,000 a “35-ton hydraulic truck crane” from Industrial Steel Erectors, Inc. Apparently, the purchase was, at least in part, financed by the First State Bank of Atmore (“FSB”).

On September 1, 1984, Swaland leased the crane to Dixie Steel and Supply Company, Inc. (“Dixie”). The lease agreement (“the…