update: this has just been changed to 3:00 p.m.

At 1:00 the Court of Appeals will hear James Cooley and Cooley Drug v. J.M. Smith Corp. 

J.M. Smith Corporation supplied inventory to Cooley Drug.  At some point,. Cooley stopped  paying and J.M. Smith filed a replevin.   Cooley  Drug responded with a Motion to Dismiss  but never filed an Answer.  At trial,  the trial court found for J.M. Smith holding that Smith had proven its security interest, that the collateral could not be found, and that Smith was owed the value of the missing collateral and attorney fees under the contract papers.  Smith was ordered to credit Cooley Drug in the event that any of the collateral was found.  On appeal, Smith argues that it was error for the Court to issue a replevin and damages.

Cooley’s brief

J.M. Smith’s brief

Watch the argument here