Valmont Credit Corp. v. McIlravy

DUNN, Justice.

This is an appeal from a summary judgment granted to plaintiff Valmont Credit Corporation (Valmont) in an action to recover amounts due under the terms of a purchase security agreement. We affirm.

W.T. Mcllravy, Marion Mcllravy, Louis J. Van Roekel, and Carol Van Roekel, doing, business as McVan Farm & Ranch (appellants), operate a corporation which farms land in Stanley County, South Dakota. In March of 1979, appellants and Sand-hills Implement of Bassett, Nebraska, executed a purchase security agreement by which appellants agreed to purchase irrigation equipment for their farm.…