Dominion Bank, N.A. v. Wilson (In Re Wilson)

MEMORANDUM OPINION

TURK, Chief Judge.

This matter is before the court on appeal from the United States Bankruptcy Court. The plaintiff, Dominion Bank, N.A. (hereinafter “Dominion”) appeals the decision of the bankruptcy court holding that Dominion’s security agreement with the debt- or/defendant David S. Wilson (hereinafter “Wilson”) did not give Dominion a security interest in a real estate option contract which Wilson exercised prior to signing the security agreement.

The facts are not in dispute. In August, 1978, Wilson entered into a contract with L.B. Holyfield (hereinafter “Holyfield”),…