Austin Farm Center, Inc. v. Austin Grain Co.

OPINION

CRIPPEN, Judge.

The questions presented in this case are (1) whether the parties entered into a valid settlement when the creditor proposed settlement, received settlement documents, delayed acting for several months, and cashed the settlement check; and if so, (2) whether this settlement also extinguishes the creditor’s security interest obtained on a third party’s property. The trial court granted summary judgment against the creditor on both questions, and we affirm.

FACTS

Appellant Austin Farm Center, Inc. sued respondents Lester and Ruby Ward for an allegedly unpaid debt. Appellant’s…