Matteson v. Harper

This is an action for conversion of collateral in which plaintiff had a perfected security interest. The trial court granted plaintiffs motion for summary judgment. We reverse and remand with instructions to enter judgment for defendant.

The facts are not in dispute. Plaintiff owned a 1978 model John Deere bulldozer, which he had purchased as an investment. In September, 1980, he sold the bulldozer to a group of individuals and a corporation (the Thorson group), retaining a security interest. The security agreement prohibited sale of the collateral without the written consent of the secured…