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Current City ( CC ) is a retail seller of television sets. CC sells Dhani a $ 3 , 0 0 0 large - screen,
Current City CC is a retail seller of television sets. CC sells Dhani a $ largescreen, highdefinition, LED set on a retail installment security agreement in which he pays $ down and agrees to pay the balance in equal installments. CC retains a security interest in the set, and perfects that interest by filing a financing statement centrally. Two months later, Dhani is in default on the payments to CC and is involuntarily petitioned into bankruptcy by other creditors. Discuss CCs right to repossess the TV set and whether CC has priority over the trustee in bankruptcy.
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