When Corona leased farmland to a strawberry farmer named Armando Munoz Juarez, it claimed a security interest

Question:

When Corona leased farmland to a strawberry farmer named Armando Munoz Juarez, it claimed a security interest in his strawberry crop. Corona’s financing statement listed the farmer’s name as “Armando Munoz,” even though his state-issued ID card identified his last name as “Juarez.” When the farmer contracted to sell strawberries to Frozsun, it filed its own financing statement securing the strawberries. This statement listed the debtor’s name as “Armando Juarez.” When the farmer defaulted, both Corona and Frozsun claimed an interest in the same strawberries. Which party prevails—Corona or Frozsun? Why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction To Business Law

ISBN: 9781337404341

6th Edition

Authors: Jeffrey F. Beatty, Susan S. Samuelson, Patricia Abril

Question Posted: