Friedman, Lobe & Block v. C. L. W. Corp.

— We are here involved with the rules governing priority among security interest holders under RCW 62A. 9 of the Uniform Commercial Code.

On September 17, 1969, John L. Stieber loaned C. L. W. Corporation $5,689. At that time C. L. W. already owed Stieber $3,900 for accounting services. As security for the loan and to secure payment for the services that Stieber had rendered, C. L. W. assigned to Stieber a portion of the expected recovery of its then pending lawsuit against Bank of the West.

On September 9, 1970, Friedman, Lobe & Block was awarded a judgment against C. L. W. for $1,844.50, and,…