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Buyer in the Ordinary Course

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Court of Appeals (Arizona) Departs from Quartz Analysis: Finds Buyers of Vehicles from Dealers are Buyers in the Ordinary Course Because Holding that a Purchaser is Presumed to Know the Contents of a Title Certificate for the Vehicle the Purchaser is Buying from a Licensed Auto Dealer Would Be Onerous to the Consumer and Substantially Impede Commercial Transactions

by Scott J. Hyman |

In DIANA PIMENTEL GARCIA, v. DEALERS AUTO AUCTION OF THE SOUTHWEST, LLC,  No. 1 CA-CV 23-0171, 2023 WL 8827231, at *1 (Ariz. Ct. App. Dec. 21, 2023), the Arizona Court of Appeals seemingly would depart from the analysis applied by the California Court of Appeal in the Quartz decision. The material facts are not in dispute. Auto Auction had a business… Read More

District Court (Ark.) Says Automobile RISC Assignee Security Interest Was Superior to Floorplan Finance Company’s Security Interest

by Scott J. Hyman |

In Ford Motor Credit Company v. First National Bank of Crossett, 2016 WL 4916829, at *5–8 (Ark.App., 2016), the Arkansas Court of Appeal held that a RISC assignee's security interest was superior to that of a floorplan finance company's. FNBC acknowledges that a buyer in the ordinary course of business takes free of any underlying security interest created by the seller,… Read More