Prairie Landscaping borrowed funds from Soy Capital Bank to purchase a new tractor, which served as collateral securing the loan. Soy Capital perfected its security interest by filing a financing statement with the Illinois Secretary of State's office but did not file a continuation statement until five years and three months later. However, Prairie Landscaping already sold the tractor to Illini Greens, a purchaser for value. Prairie Landscaping defaulted on the debt to Soy Capital. Who is entitled to the tractor? 

Answer rating: 100% (QA)

Illini Greens would likely be entitled to the tractor in this scenario When a security in... View the full answer