Tanenbaum v. Economics Laboratory, Inc.

WALLACE, Justice.

This is an appeal from a take nothing summary judgment in which the creditor sued for a deficiency judgment following default on a secured note and repossession of the collateral. The court of civil appeals reversed the trial court and remanded for trial. 620 S.W.2d 839. We reverse the judgment of the court of civil appeals and affirm the judgment of the trial court.

The sole issue before us is whether the retention of collateral in a secured transaction, without notice to the debtor, bars a suit for deficiency. Economics Laboratory, Inc., (Economics) sold certain items of…