Question

Ronald Allegretti purchased a bedroom set valued at $900 and a television set valued at $350 from Goldblatt Brothers, a furniture and appliance store, on a revolving credit account. Under the terms of the revolving credit agreement and the credit slip that was signed at the time of each purchase, Goldblatt's reserved a security interest in all goods sold on credit to Allegretti. Goldblatt's then assigned its interest in the extended credit agreement to General Electric Credit Corporation. Neither filed a financing statement. Allegretti subsequently filed a voluntary petition in bankruptcy, and one of the questions in the bankruptcy action was whether Goldblatt's, and in turn General Electric Credit Corporation, held a perfected security interest in the bedroom set and the television. Did the creditors hold a perfected security interest in the bedroom set and the television set?



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  • CreatedJuly 16, 2014
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