Hope v. Performance Automotive, Inc.

HOUSTON, Justice.

The plaintiff, James H. Hope III, appeals from a judgment for the defendants Morris Automotive, Inc., and SunTrust Bank, in this action seeking, among other things, to establish a superior security interest in certain collateral.1 We affirm.

For a number of years, Hope owned and operated Service Auto Parts, Inc., a NAPA Genuine Auto Parts store in Opelika. Hope negotiated during the latter part of 1990 and the first few months of 1991 to sell his store to Sidney E. (Gene) Lambert. After Hope and Lambert had reached an oral agreement for the sale of Service Auto Parts, Lambert…