Symons, a full-time insurance salesperson, bought a set of drums and cymbals from Grinnel Brothers. A security agreement was executed between them but was never filed. Symons purchased the drums to supplement his income by playing with a band. He had done this before, and his income from his two jobs was about equal. He also played several other instruments. Symons became bankrupt, and the trustee tried to acquire the drums and cymbals as part of his bankruptcy estate. Grinnel's claimed that the drums and cymbals were consumer goods and thus it had a perfected security interest merely by attachment of the security interest.
Were the drums and cymbals consumer goods?

  • CreatedJuly 16, 2014
  • Files Included
Post your question