Piggott State Bank v. Pollard Gin Co.

George Rose Smith, Justice.

The one question in this case is whether the plaintiff-appellant bank, in lending $1,200 to Denzil Karnes upon the security of crops to be grown by him during the ensuing year, inserted in its combined Financing Statement and Security Agreement a description of the crops sufficient to put third persons on notice under the Uniform Commercial Code. The chancellor held the description to be fatally defective and accordingly dismissed the bank’s suit for conversion against the appellee gin company, which had bought the cotton crop from Karnes.

This is the description…