Fordyce Bank made several loans to Bean Timberland so it could buy timber from landowners. Bean would
Question:
1. The high court affirmed that the buyers of the timber had no duty to do a search for a security interest on the timber and were not liable to the bank, which lost its potential collateral. What is the logic of not having buyers in the ordinary course of business not do a search?
2. What could the bank have done to protect itself against this sort of outcome?
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Related Book For
The Legal Environment of Business
ISBN: 978-0538473996
11th Edition
Authors: Roger E Meiners, Al H. Ringleb, Frances L. Edwards
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