First Nat. Bank of Lacon v. Strong

In 1983 Elmer and Pam Strong incorporated their business, which leased and operated service stations and sold petroleum products, under the name "E. Strong Oil Company.” They employed the name "Strong Oil Co.” as a trade name.

The First National Bank of Lacón loaned $75,000 to the Strongs’ business to refinance an earlier note. The Strongs signed a promissory note, a security agreement and a financing statement. The named borrower was "Strong Oil Co.” The security agreement granted the bank a security interest in the inventory, equipment, accounts, instruments, documents, chattel paper and…