Legal Opinion
Poteau State Bank v. Denwalt
Supreme Court of Oklahoma
Decided July 9, 1979No. 50421PublishedCited by 22 opinions
1Opinion of the Court
OP ALA, Justice:
The dispositive issue here is whether a prior secured party’s act, as a corporate officer of the debtor, in executing, by bill of sale, a transfer of the collateral to a third party, with a covenant that it is free of all encumbrances, did impliedly operate as her individual authorization for the sale thereof. If so, then the security interest she had in that collateral as an individual did not survive the sale under 12A O.S.1971 § 9-306(2). We resolve the issue by an affirmative answer and hold the interest in question was released with the transfer as a matter of law.
Under…
2Cases cited16 opinions
- Irwin v. IrwinSupreme Court of Oklahoma · 1966
- Apex Siding & Roofing Co. v. First Federal Savings & Loan Ass'n of ShawneeSupreme Court of Oklahoma · 1956
- Central California Equipment Co. v. Dolk Tractor Co.California Court of Appeal · 1978
- Martin v. Leeper Bros. Lumber Co.Supreme Court of Oklahoma · 1915
- Palmer v. Crews Lumber Co., Inc.Supreme Court of Oklahoma · 1973
11 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Vacura v. Haar's Equipment, Inc.Supreme Court of Minnesota · 1985
- The First National Bank and Trust Company of Oklahoma City, Plaintiff v. Iowa Beef Processors, Inc.Court of Appeals for the First Circuit · 1980
- First State Bank v. Diamond Plastics Corp.Supreme Court of Oklahoma · 1995
- Kinetics Technology International Corporation, a Delaware Corporation v. The Fourth National Bank of Tulsa, a National Banking AssociationCourt of Appeals for the Fourth Circuit · 1983
- Peoples National Bank & Trust v. Excel Corp.Supreme Court of Kansas · 1985
17 more not listed; retrieve them via the Exa API.