Fred's Finance Co. v. Fred's of Dyersburg, Inc.
Court of Appeals of Tennessee
1Opinion of the Court
CRAWFORD, Judge.
This case involves creditor rights under a perfected security agreement. Defendants have appealed from the trial court’s order granting plaintiff summary judgments against them. Plaintiff has also presented issues for review which we will consider as necessary.
Defendant, Fred’s of Dyersburg, Inc., borrowed $800,000 from plaintiff, Fred’s Finance Company, evidenced by a promissory note in that amount dated April 13, 1983, and payable on demand. As security for the loan, Fred’s of Dyersburg executed, among other things, a security agreement and collateral pledge agreement…
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