Stotts v. Johnson

Steele Hays, Justice.

This case involves a priority dispute under the Uniform Commercial Code between two creditors, F.L. and Shirley Stotts, appellants, and Malvern National Bank, appellee. The Stotts and the Bank claimed an interest in property being purchased by the debtor, Jimmy Johnson. The trial court found in favor of the Bank and the Stotts appeal from that decision.

On August 4, 1986, Jimmy Johnson made an agreement with F.L. Stotts to purchase a concession trailer from Stotts. Stotts gave Johnson a bill of sale which described the homemade concession trailer and included a statement…