Southwest Washington Production Credit Ass'n v. Seattle-First National Bank

Southwest Washington Production Credit Association (PCA) brought a declaratory judgment action claiming its security interest in crops acquired by Symons Frozen Foods, Inc. (Symons), a food processor, had priority over a security interest of Seattle-First National Bank (Sea-First) in Symons' inventory. The trial court ruled in PCA's favor, which judgment was reversed by the Court of Appeals. We reverse the Court of Appeals and affirm the judgment of the trial court.

The- issue in this case is whether petitioner PCA, by its actions, authorized the sale of farm products and thereby waived its…