Rawlings purchased a typewriter from Kroll Typewriter Co. for $600. At the time of the purchase, he

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Rawlings purchased a typewriter from Kroll Typewriter Co. for $600. At the time of the purchase, he made an initial payment of $75 and agreed to pay the balance in monthly installments. A security agreement that complied with the UCC was prepared, but no financing statement was ever filed for the transaction. Rawlings, at a time when he still owed a balance on the typewriter and without the consent of Kroll, sold the typewriter to a neighbor. The neighbor, who had no knowledge of the security interest, used the typewriter in her home. Could Kroll repossess the typewriter from the neighbor?

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Andersons Business Law and the Legal Environment

ISBN: 978-0324786668

21st Edition

Authors: David p. twomey, Marianne moody Jennings

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