In June 1995, Michael and Debra Boudreaux, doing business as D& J Enterprises, Inc., bought a retail
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Before the end of the year, the Boudreauxes changed the name of their business to Tri-B Enterprises, Inc. In January 1998, the store closed. The next month, Radio Shack terminated the franchise and, despite the lack of a security interest, took possession of the inventory, claiming the Boudreauxes and Tri- B owed Radio Shack $ 6,394.73. The bank filed a suit in a Missouri state court against Radio Shack, claiming a perfected security interest in the inventory with priority over Radio Shack’s claim. Did the bank’s security interest take priority over Radio Shack’s claim? Why or why not?
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Business Law Text and Cases
ISBN: 978-1285185248
13th edition
Authors: Kenneth Clarkson, Roger LeRoy Miller, Frank Cross
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