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Buyer in the Ordinary Course

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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