This is because Prime had authority to pledge the partnerships' property for a partnership purpose, but did not have authority to do so for a nonpartnership purpose without the consent of the limited partners. The appellants argue that the partnerships failed to prove that the loans were for a nonpartnership purpose. Farmland Serv. Co-op. v. Southern Hills Ranch, 266 Neb. 382, 392, 665 N.W.2d 641, 648 (2003).(a) The October Loan Was for a Nonpartnership Purpose
Summary judgment is proper when the pleadings and evidence admitted at the hearing disclose that there is no genuine issue as to any material fact or as to the ultimate inferences that may be drawn from those facts and that the moving party is entitled to judgment as a matter of law. Farmland Serv. Co-op v. Southern Hills Ranch, ante p. 382, 665 N.W.2d 641 (2003). FACTS
¶11 Because there is a dirth of Oklahoma Supreme Court case law regarding the priority of agricultural liens under the UCC, we look to the case law of our sister states for guidance. In Farmland Serv. Coop., Inc. v. S. Hills Ranch, Inc., 665 N.W.2d 641 (Neb. 2003), the Supreme Court of Nebraska considered a case with facts nearly identical to those here. Id. at 644.
¶11 Because there is a dirth of Oklahoma Supreme Court case law regarding the priority of agricultural liens under the UCC, we look to the case law of our sister states for guidance. In Farmland Serv. Coop., Inc. v. S. Hills Ranch, Inc ., 266 Neb. 382, 665 N.W.2d 641 (2003), the Supreme Court of Nebraska considered a case with facts nearly identical to those here. Id. at 644.
Conversion is "any unauthorized or wrongful act of dominion exerted over another's property which deprives the owner of his property permanently or for an indefinite period of time." Brook Valley Ltd. P'ship v. Mut. of Omaha Bank, 825 N.W.2d 779, 787 (Neb. 2013) (quoting Farmland Serv. Co-op v. S. Hills Ranch, 665 N.W.2d 641, 648 (Neb. 2003)). To succeed on a cause of action for conversion, a plaintiff must show, "(1) an immediate right to possession of the property and (2) its wrongful possession by the tort-feasor."
They converted property of the bankruptcy estates to that extent. Conversion is any unauthorized or wrongful act of dominion exerted over another's property which deprives the owner of his property permanently or for an indefinite period of time.Farmland Serv. Coop., Inc. v. S. Hills Ranch, Inc., 665 N.W.2d 641, 648 (Neb. 2003). During the time that the debtors operated the buildings, the records show that Brook Valley IV made a "profit" or had "net cash flow" of $13,063.42. With regard to Brook Valley VII, the "net cash flow" was $73,517.90.
In Nebraska, conversion is any unauthorized or wrongful act of dominion exerted over another's property which deprives the owner of his property permanently or for an indefinite period of time. Farmland Serv. Co-Op., Inc. v. Southern Hills Ranch, Inc., 266 Neb. 382, 392, 665 N.W.2d 641, 648 (2003). Taking Carter Feeders' money and depositing it in Damrow Cattle's accounts is a conversion of Carter Feeders' assets.
The grant of a motion for summary judgment may be affirmed on any ground available to the trial court, even if it is not the same reasoning the trial court relied upon. See Farmland Serv. Co-op v. Southern Hills Ranch, 266 Neb. 382, 665 N.W.2d 641 (2003).Olson v . Wrenshall, 284 Neb. 445, 822 N.W.2d 336 (2012).
Summary judgment is proper when the pleadings and evidence admitted at the hearing disclose that there is no genuine issue as to any material fact or as to the ultimate inferences that may be drawn from those facts and that the moving party is entitled to judgment as a matter of law. Farmland Serv. Co-op v. Southern Hills Ranch, ante p. 382, 665 N.W.2d 641 (2003). [2-4] When reviewing questions of law, an appellate court has an obligation to resolve the questions independently of the conclusion reached by the trial court.
Summary judgment is proper when the pleadings and evidence admitted at the hearing disclose that there is no genuine issue as to any material fact or as to the ultimate inferences that may be drawn from those facts and that the moving party is entitled to judgment as a matter of law. Farmland Serv. Co-op v. Southern Hills Ranch, ante p. 382, 665 N.W.2d 641 (2003). ANALYSIS