Legal Opinion
C. O. Funk & Son, Inc. v. Sullivan Equipment, Inc.
Appellate Court of Illinois
Decided January 12, 1981No. 16277PublishedCited by 8 opinions
1Opinion of the CourtJustice Mills
First impression.
Uniform Commercial Code.
Section 9 — 306(2).
How do we define “identifiable proceeds”?
We must first look at the background.
On March 31, 1978, plaintiffs (Funk) sold their farm-implement business, including inventory, to defendants (Sullivan). In connection with that sale, Funk retained a security interest in certain specifically listed items of farm-equipment inventory (referred to by the parties as “bill of sale items”) and their proceeds. The financing statement which perfected that security interest was filed on April 3, 1978, prior to any other filing concerning that…
2Cases cited12 opinions
- Citizens National Bank v. Mid-States Development Co.Indiana Court of Appeals · 1978
- Universal CIT Credit Corp. v. Farmers Bank of PortagevilleDistrict Court, E.D. Missouri · 1973
- Brown & Williamson Tobacco Corp. v. First National Bank of Blue Island, a National Banking AssociationCourt of Appeals for the First Circuit · 1974
- ASSOC. DIS. CORP. v. Fidelity Un. Trust Co.New Jersey Superior Court Appellate Division · 1970
- Commercial Discount Corp. v. Milwaukee Western BankWisconsin Supreme Court · 1974
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- C. O. Funk & Sons, Inc. v. Sullivan Equipment, Inc.Illinois Supreme Court · 1982
- In Re Datair Systems Corp.United States Bankruptcy Court, N.D. Illinois · 1984
- Bank of Kansas v. Hutchinson Health Services, Inc.Court of Appeals of Kansas · 1987
- General Electric Co. Business Lighting Group v. Halmar Distributors, Inc. (In Re Halmar Distributors, Inc.)United States Bankruptcy Court, D. Massachusetts · 1999
- First Interstate Bank of Denver, N.A. v. Arizona Agrochemical Co.Colorado Court of Appeals · 1986
3 more not listed; retrieve them via the Exa API.