(DOWNLOAD) "Commerce Union Bank v. Possum Holler" by Supreme Court of Tennessee " eBook PDF Kindle ePub Free
eBook details
- Title: Commerce Union Bank v. Possum Holler
- Author : Supreme Court of Tennessee
- Release Date : January 24, 1981
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 71 KB
Description
DROWOTA, J. Plaintiff-appellee, Commerce Union Bank, seeks a declaration of its rights to the proceeds of the sale of certain equipment and inventory of the debtor, Possum Holler, Inc. The primary issue concerns the priority of the conflicting liens held by the plaintiff and the Commissioner of Revenue. We are asked to determine, among other things, (1) whether a perfected security interest, securing all present and future indebtedness, has priority as to future advances over an intervening state tax lien and, (2) whether such security interest is limited to an amount equal to the indebtedness upon which the Tennessee recording tax was paid when the financing statement was filed.