Simplot v. WILLIAM C. OWENS, MD, PA

BURNETT, Judge.

This case presents the saga of a bus, a buyer, a bureaucratic bungle, a secured party and a seller who dropped out of sight. The issues on appeal concern a dispute between the buyer and the secured party. We are asked to decide (1) whether there is a valid security interest in the bus; (2) whether this interest was timely perfected; (3) whether the perfection was later invalidated; and (4) whether, in any event, the buyer acquired the bus free of any security interest as a buyer in the ordinary course of business. The district court resolved all these questions in favor of the…