Bank of Madison v. Tri-County Livestock Auction Co.

Pannell, Judge.

The Bank of Madison, plaintiff appellant, on November 9, 1968, filed a financing statement on "800 Head all grades and breed beef cattle located on Farm of W. E. Giddens in Seats District of Morgan County, Georgia, and any increase thereof by birth or purchase” and the proceeds thereof, given to secure a line of credit to Giddens of approximately $50,000, the amount of the indebtedness to vary from time to time. Giddens was engaged in buying feeder cattle and feeding them and giving them medical treatment for better health and then selling them. On October 14, 1969, Tri-County…