Security National Bank v. Belleville Livestock Commission Co.

HOLLOWAY, Circuit Judge.

Defendant-appellant livestock auctions (“Belleville,” “Glaseo,” and “Osborne”) have taken these timely appeals to review a summary judgment for the plaintiff Bank in three conversion cases brought by the Bank, claiming conversion by the auction companies of cattle covered by its security agreements. The primary issues are (1) whether the Bank impliedly waived its security interest in cattle sold by its debtor by its course of conduct, custom, usage or procedure in accepting proceeds of unauthorized sales of cattle covered by security agreements without remonstrating…