Stanley Bank v. Parish

Standridge, J.:

Robert A. Bazin (Robert) and Bazin Excavating, Inc. (Bazin Excavating) appeal the district court’s decision to grant summaiy judgment in favor of Stanley Bank (Bank) in this dispute over proceeds from the sale of a 2006 GMC Yukon, which was seized by Bazin Excavating in order to satisfy a judgment despite the Bank’s purchase money security interest in the truck. For the reasons stated below, we affirm in part, reverse in part, and remand with directions.

Facts

In early 2006, the Bank loaned Johnny and Kellie Parish $40,000 to purchase a 2006 GMC Yukon. As security for the loan,…