Bank of Danville v. Farmers National Bank of Danville

STERNBERG, Justice.

This action involves the priority of a security agreement and financing statement of the Bank of Danville and Farmers National Bank of Danville. Hereafter, for brevity, we will refer to the Bank of Dan-ville as the “Bank” and to Farmers National Bank of Danville as “Farmers.”

Garnett Baugh and Gertrude Baugh, his wife, throughout a period of several years had executed to the Bank four separate evidences of indebtedness and were in default on each of them. The unpaid balance on the combined indebtedness was $44,-275.11. One of the evidences of indebtedness, being the document…