LaMunion v. Southern States Westminster Cooperative, Inc.

The principal question presented on this appeal is whether a lienholder or attaching creditors are entitled to the proceeds from a sale of dairy cattle, farm equipment and other chattels sold at a public sale under a written agreement between the owners and an auctioneeer and sales manager who was also the lienholder and an unsecured creditor.

V. Kenneth and Ella Mae Groomes (the Groomes’) in August of 1960, executed a chattel mortgage and a conditional sales contract (collectively herein referred to as “lien” or “liens”) on their cattle, farm equipment and other chattels to Guy A. LaMunion…