# Garden City Production Credit Assn. v. Lannan

> Nebraska Supreme Court · April 16, 1971 · 186 Neb. 668

URL: https://www.frixlaw.com/law-library/cases/9571150

## Case

- **Full name:** Garden City Production Credit Assn., Appellant, v. J. P. Lannan, Appellee
- **Court:** Nebraska Supreme Court
- **Decided:** April 16, 1971
- **Citations:** 186 Neb. 668; 186 N.W.2d 99; 8 U.C.C. Rep. Serv. (West) 1163; 1971 Neb. LEXIS 772
- **Precedential status:** Published
- **Opinion:** Dissent by Boslaugh
- **Judges:** White, Spencer, Boslaugh, Smith, McCown, Newton, Clinton
- **Cited by:** 39 later opinions in the Frix Law Library

## Citator (automated)

- **Red flag:** Overruled on other grounds by Farmers State Bank v. Farmland Foods, Inc., 225 Neb. 1 (1987).
- Negative treatments: 1
- Distinguished by: 0
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/9571150

## How later opinions describe it (automated extraction)

- holding that the secured party did not waive its security interest in the collateral cattle

## Opinion text

Boslaugh, J.,
dissenting.
I concur in the opinion of Newton, J., that the circumstances in this case established both an authorization of the sale by the plaintiff, which waived its security interest in the cattle sold, and a ratification of the sale by the acceptance of the proceeds. See, Farmers’ Nat. Bank v. Missouri Livestock Commission Co., 53 F. 2d 991 ; First Nat. Bank & Trust Co. v. Stock Yards Loan Co., 65 F. 2d 226 ; Seymour v. Standard Live Stock Commission Co., 110 Neb. 185 , 192 N. W. 398 ; Warrick v. Rasmussen, 112 Neb. 299 , 199 N. W. 544 . These long-standing principles of law and equity have not been displaced by any provision of the code. See § 1-103, U. C. C.
McCown, J., joins in this dissent.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/9571150. Public record. Not legal advice.