Midkiff Implement Co. v. Worrall

Uniform Commercial Code.

Does “all *** farm machinery *** now owned” mean just that in a security agreement?

It does.

We affirm.

Donald Worrall, a Morgan County farmer, found himself beset by the same plight that has befallen many farmers today — he bought farm machinery which he was unable to pay for. In April of 1977, he purchased a New Holland Model 850 round hay baler from the Midkiff Implement Company. In June of the same year, he purchased a 770 W forage pickup, a New Holland Model 80 bale carrier, and a New Idea Model 404 hay rake from Midkiff. Worrall executed a retail installment…