Court of Civil Appeals of Oklahoma April 10, 1990, No. 70904 (Gray v. Carter)

OPINION

GARRETT, Presiding Judge:

The primary issue before us in this appeal is the applicability of 12A O.S.1981 § 9-506 to the facts herein. The parties entered into a stipulation of the facts prior to trial. These agreed facts indicate Appellant Jim W. Carter (Carter) and Appellee Joe D. Gray (Gray) formed a corporation with Pete Eischen (Eischen) in July, 1984 for an automobile dealership.