Mike Thurmond operated Top Quality Auto Sales. He financed its inventory of vehicles by obtaining credit under a financing arrangement with Indianapolis Car Exchange (ICE), who filed a financing statement that listed Top Quality's inventory of vehicles as collateral for the financing. Bonnie Chrisman (another car dealer) bought a truck from Top Quality. When she went to sell the truck to Randall and Christina Alderson, she filed to retrieve the title to the truck. She then discovered Top Quality had not paid ICE for the truck and that there was a lien on truck.

Issue: When ICE refused to release the lien on the truck, the Aldersons sued ICE to obtain title to the truck. The Aldersons asserted that Chrisman, and then they, were buyers in the ordinary course of business and therefore acquired the truck free of ICE's financing statement. ICE filed a counterclaim to recover the truck from the Aldersons.

Explain your answers

1. What difference does it make whether the court rules that Chrisman and/or the Aldersons are buyers in the ordinary course of business? In other words, would this give them some type of advantage or protection?
2. Given the facts of the case, explain whether you think Chrisman and the Aldersons are buyers in the ordinary course of business
3. Should ICE be able to repossess the truck from the Aldersons? Explain