Opinion ID: 1139609
Heading Depth: 1
Heading Rank: 1

Heading: SIMMONS MACHINERY CO., INC. v. M & M BROKERAGE, INC.

Text: This appeal by Simmons Machinery Co., Inc. (Simmons), raises numerous issues arising out of an adverse judgment against it in favor of M & M Brokerage, Inc. (M & M). M & M was engaged in the brokerage of coal and in coal mining at times pertinent to this litigation. Simmons is a dealer in heavy machinery. Credit Alliance Corporation (Credit Alliance) is a finance company. M & M commenced an action against Simmons and Credit Alliance on June 28, 1977. The disputes that form the bases of M & M's complaint arise out of two transactions. One involves M & M's purchase of a drill from Simmons. The other involves a dragline purchased by M & M which was sold originally by Simmons. The dragline installment purchase contract was assigned at one time to Credit Alliance. M & M's complaint against Simmons and Credit Alliance alleged various causes of action. Those pertinent to the issues raised by this appeal are causes of action alleging that Simmons converted the drill and failed to account to M & M for the proceeds of its sale. M & M alleged also that both Simmons and Credit Alliance failed to satisfy a recorded security interest in the dragline. The trial court, in its pre-trial order of September 27, 1979, granted summary judgment in favor of M & M against Simmons on the issue of liability for the alleged conversion of the drill. By the same pretrial order, summary judgment on the issue of liability was granted in favor of M & M against Simmons and Credit Alliance for alleged failure to satisfy the recorded security interest in the dragline. Except for the statutory penalty of $100.00 provided in Code 1975, § 7-9-404(1), for failure to file a termination statement by a secured party, the other issues of damages were submitted to the jury. The jury returned a verdict in the amount of $23,000.00 on M & M's conversion claim against Simmons. No other awards were returned by the jury. Simmons's counterclaim against M & M for breach of warranty of title on a drill traded to it by M & M was dismissed at the close of evidence pursuant to M & M's motion for a directed verdict. After our review of the issues raised by the parties, we find no error in the action of the trial court or in the jury's verdict. We, therefore, affirm the judgment. We will consider separately the issues raised by each transaction.