Luzar v. Western Surety Co.

HUNTLEY, Justice.

We granted a petition to review a decision of the Court of Appeals which reversed a jury verdict in favor of plaintiffs on a cause of action for conversion of personal property which was pledged as collateral. We set aside the decision of the Court of Appeals, 106 Idaho 1, 674 P.2d 430, and affirm the judgment of the trial court.

Plaintiffs Luzar and Elexpuree are partners doing business as Joe & Martin Trucking, who operate as “track buyers”, buying, transporting, and reselling hay. In 1975 Joe & Martin Trucking obtained a track buyer’s bond, required by a statute, from…