Banks Bros. Corp. v. Donovan Floors, Inc.

¶ 1. James P. Donovan, Jo-Ann Donovan, Donovan Floors, Inc. and Breakfall, Inc. appeal from the trial court's order denying their motion for relief from a stipulated judgment of foreclosure on the Donovans' home. We affirm.

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¶2. This case involves the interrelationship between a debt, collateral, and provisions of Wisconsin's version of Article 9 of the Uniform Commercial Code, specifically WlS. Stat: §§ 409.505(2) and 409.501(3).

¶ 3. In 1990, Donovan Floors and Breakfall, two companies controlled by the Donovans, owed Bank One, Milwaukee, NA, some $245,000. James Donovan had previously…