United States Bankruptcy Appellate Panel for the Ninth Circuit June 15, 1987, BAP No. CC-86-1764 JMoV, Bankruptcy No. LA83-23533 CA, Adv. No. LA85-0142 CA (Charger Boats v. Tepper Industries, Inc. (In Re Tepper Industries))

OPINION

JONES, Chief Judge:

Appellant Charger Boats appeals the bankruptcy court’s order holding that Charger’s claim is unsecured. We affirm.

FACTS

In December, 1978, the debtor, Tepper Industries, Inc. (“Tepper”), purchased a spa manufacturing business from Charger Boats (“Charger”) for $180,000.00. In conjunction with the sale, Tepper executed a promissory note in favor of Charger for $128,000.