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IVB v. FIRST NATIONAL BANK

No. 1983-328.

40 Pa. D. & C. 3d 176 (1985)

Industrial Valley Bank v. First National Bank of Greencastle

Common Pleas Court of Franklin County, Pennsylvania.

May 9, 1985.

Attorney(s) appearing for the Case

Stephen T. Burdmuy, for plaintiff.

David S. Dickey, for defendant.

EPPINGER, P.J., May 9, 1985.

Under an agreement made on November 24, 1980, Industrial Valley Bank & Trust Company (Valley) periodically made loans to Cambridge Wreckers, Inc., (Cambridge) of Cornwell Heights, Pa., to finance the purchase of the inventory of Cambridge. Valley retained a security interest in all of Cambridge's inventory and accounts receivable. The security agreement between Valley and Cambridge defines inventory as, "goods held for sale...

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