Mullins v. Horne

OPINION

HAIRE, Presiding Judge.

The ultimate issue raised on this appeal is whether the trial judge erred in refusing to set aside a sale of corporate stock which had been pledged as security for the payment of a promissory note. The debtor contended that the sale was not commercially reasonable nor conducted by the seller in good faith as required by the applicable provisions of the Uniform Commercial Code as adopted in Arizona. 1

The facts, in a light most favorable to the findings made by the trial judge, show that on January 25, 1971, Sovereign Industries, Inc. (sometimes referred to herein…