National Acceptance Company of America v. Southwest Automotive Warehouse, Inc., Roy Bass, Trustee, Etc.

On cross-motions for summary judgment, the district court entered summary judgment in favor of the plaintiff below, National, against the intervenor, Trustee of the bankrupt estate of the original defendant Southwest. On appeal, the sole issue presented is whether or not the description of the security purportedly covered by National’s factor’s lien is sufficient to comply with the Texas Factor’s Lien Act, 1 and thus defeat intervenor’s claim of invalidity of the lien. We hold that the description was sufficient to comply with the Texas statute and affirm the district court.

As security for…