Peoples National Bank & Trust v. Excel Corp.

The opinion of the court was delivered by

Holmes, J.:

Peoples National Bank & Trust (PNB) appeals from an order of summary judgment in favor of Excel Corpora*688tion (Excel) granted in an action for conversion of certain livestock in which PNB held a perfected security interest. Excel bought the livestock from PNB’s debtor, Larry D. Burkdoll, and contends PNB released its security interest when it expressly consented to the sale by Burkdoll. PNB appeals claiming its consent was merely conditional and did not affect its security interest. The facts are not in dispute.

PNB is a banking corporation…