Gulf Oil Co. U. S. v. First National Bank of Hereford

ELLIS, Chief Justice.

This appeal presents for determination the priority of rights of (1) a purported attachment lienholder and (2) one claiming a lien as a secured party under the Texas Business and Commerce Code with respect to the proceeds from the sale of certain crops grown in 1971 by a defendant who is indebted to both claimants. The trial court’s judgment awarding a portion of such proceeds to each creditor is challenged by both claimants, each contending its entitlement to all of the proceeds on the grounds that its asserted lien upon the portion of the 1971 crop proceeds awarded to…