Grimes purchased a new Dodge car from Hornish, a franchised Dodge dealer. The sale was made in

Question:

Grimes purchased a new Dodge car from Hornish, a franchised Dodge dealer. The sale was made in the ordinary course of Hornish's business. Grimes paid Hornish the purchase price of the car at the time of the sale. Hornish had borrowed money from Sterling Acceptance and had given it a perfected security interest in its inventory, including the car Grimes bought. Hornish defaulted on its loan to Sterling and Sterling then tried to recover the Dodge from Grimes.
Was the car Grimes bought from Hornish still subject to Sterling Acceptance's security interest?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

Question Posted: