Ruidoso State Bank v. Garcia

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• “Although the cause of action may be merged into the judgment, the debt may be earned forward to prevent the destruction of contract rights.”
• bank entitled to possession of collateral even though it first obtained unsatisfied judgment on underlying obligation
• where bank first sued on debt and obtained default judgment against debtors, its security interest did not merge into such judgment so as to preclude later suit
• the purpose of Section 55-9-501 is to abolish the doctrine of election of remedies
• The Uniform Commercial Code abolished the doctrine of election of remedies. The statutes allow a creditor two different causes of action, one for debt and one for mortgage foreclosure. Recovery under one theory does not preclude later recovery on the other.

Source: CourtListener parenthetical corpus (CC0).