Burney loaned Sampson $4,000 to buy a car. Sampson issued a promissory note in favor of Burney
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Burney loaned Sampson $4,000 to buy a car. Sampson issued a promissory note in favor of Burney for that amount. Also, when he registered the new car, Sampson had Burney’s name entered on the title as lienholder. Later Sampson took out a loan from the First National Bank of Pennsboro. After a few months, he defaulted on both the bank loan and the promissory note. The bank filed suit and obtained a judgment against Sampson that it sought to execute against the car. Burney maintained his security interest in the car took precedence over the Bank’s claim. Who won?
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Karen Gina Dupra
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