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JONES v. BANK OF NEVADA

No. 7686.

535 P.2d 1279 (1975)

Clifford A. JONES and Lloyd E. Percell, Individually, and as copartners dba Percell-Jones Leasing Company, Appellants, v. BANK OF NEVADA, a Nevada Banking Corporation, Respondent.

Supreme Court of Nevada.

May 30, 1975.

Attorney(s) appearing for the Case

Paul V. Carelli, III, Las Vegas, and William M. Spence, Phoenix, Ariz., for appellants.

Smith & O'Brien, Las Vegas, for respondent.

OPINION

MOWBRAY, Justice:

On May 29, 1969, appellants-defendants, Clifford A. Jones and Lloyd E. Percell, executed a promissory note and a security agreement covering a certain Beechcraft Westwind aircraft in favor of the respondent-plaintiff, Bank of Nevada. Jones and Percell defaulted in the payment of the note, and as a result thereof the Bank took possession of the aircraft in April 1970. Bank sold the aircraft for $71,000 and thereafter instituted this...

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