Teeter Motor Co., Inc. v. FIRST NAT. BANK, ETC.

Frank Holt, Justice.

By the terms of a Financing and Security Agreement, appellee agreed to advance funds to appellant for the floor-planning of new and used cars to be sold by appellant. About two years later, after appellant had encountered financial difficulties, appellee took possession of appellant’s automobile stock pursuant to their agreement and liquidated it. Appellee then filed suit for a deficiency judgment for the balance of the debt owed by appellant. From the chancellor’s decree in favor of appellee comes this appeal.

Appellant first “contends that the Agreement for disposal of…