Question
McMann Golf Ball Company manufactured, as you might guess, golf balls. Barwell, Inc., sold McMann a performer, a machine that makes golf balls for $55,000.
McMann Golf Ball Company manufactured, as you might guess, golf balls. Barwell, Inc.,
sold McMann a "performer", a machine that makes golf balls for $55,000. Barwell
delivered the machine on February 20th. McMann paid $3,000 down, the remainder
to be paid over several years, and signed an agreement giving Barwell a security
interest in the performer. Barwell did not perfect its interest. On March 1st, McMann
borrowed $350,000 from First America Bank, giving the bank a security in McMann's
present and after-acquired property. First America Bank perfected by filing on March
2nd. McMann, of course, became insolvent, and both Barwell and the bank attempted
to repossess the performer. Who gets it?
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