Consider the following cases and determine whether the financing statements as filed would be valid under Article 9. Be sure to consider the standard of “seriously misleading” under Revised Article 9.
a. In re Thriftway Auto Supply, Inc., 159 BR 948, 22 UCC Rep Serv 2d 605 (WD Okla). The creditor used the debtor’s corporate trade name, “Thriftway Auto Stores,” not its legal name, “Thriftway Auto Supply, Inc.” b. In re Mines Tire Co., Inc., 194 BR 23, 29 UCC2d 617 (Bankr WDNY). The creditor used the name “Mines Company Inc.” instead of “Mines Tire
Company, Inc.”
c. Mountain Farm Credit Service, ACA v Purina Mills, Inc., 119 NC App 508, 459 SE2d 75, 27 UCC2d 1441. The creditor filed the financing statement under “Warren Killian and Robert Hetherington dba Grey Daw Farms” in a situation in which the two individuals were partners running Grey Daw Farms as a partnership.
d. B.T. Lazarus & Co. v Christofides, 104 Ohio App 3d 335, 662 NE2d 41, 29 UCC2d 627. The creditor filed a financing statement in the debtor’s old name when, prior to filing, the debtor had changed its name from B.T.L., Inc., to Alma Manufacturing, Inc.
e. In re SpecialCare, Inc., 209 BR 13, 34 UCC2d 857 (Bankr ND Ga). The creditor failed to refile an amended financing statement to reflect debtor’s name change from “Davidson Therapeutic Services, Inc.” to “SpecialCare, Inc.”
f. Industrial Machinery & Equipment Co. Inc. v Lapeer County Bank & Trust Co., 213 Mich App 676, 540 NW2d 781, 28 UCC2d 1033. The creditor filed the financing statement under the company’s trade name, KMI, Inc., instead of its legal name, Koehler Machine, Inc.
g. First Nat’l Bank of Lacon v Strong, 278 Ill App 3d 762, 215 Ill Dec 421, 663 NE2d 432, 29 UCC2d 622. Creditor filed the financing statement using the trade name “Strong Oil Co.” instead of the legal name “E. Strong Oil Company.”