Appleway Leasing, Inc. v. Wilken

This is an action at law for the conversion of a Ford tractor, model 9600, which Appleway Leasing, Inc. (plaintiff) "leased” to a farmer who subsequently "traded it in” on another tractor sold to him by Wilken Equipment Company (defendant).

Plaintiff contends that the tractor was leased to the farmer and that, therefore, defendant committed conversion by seriously interfering with plaintiffs ownership rights. Defendant responds that the tractor was sold to the farmer and that the "lease” was actually a security agreement which was unperfected because the financing statement which was filed…