MORAN v. HOLMAN

No. 1650.

514 P.2d 817 (1973)

Jack MORAN, Appellant, v. Rex F. HOLMAN, Appellee.

Supreme Court of Alaska.

October 8, 1973.


Attorney(s) appearing for the Case

Ernest Z. Rehbock, Anchorage, for appellant.

David Wolf, Alaska Legal Services, Anchorage, for appellee.

Before RABINOWITZ, Chief Justice, and CONNOR, ERWIN, BOOCHEVER and FITZGERALD, Justices.


OPINION

BOOCHEVER, Justice.

We are here confronted with the question of whether, under the provisions of the Uniform Commercial Code (U.C.C.), a debt is discharged wen the secured party, after the debtor's default in payments, repossessed a truck, used it for purposes other than its preservation, and did not initiate suit on the debt for a period of approximately four months.

In November of 1967, Rex Holman borrowed $2,050 from Jack Moran to finance...

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