Associates Discount Corp. v. Big Three Dodge, Inc.

MERRILL, Justice.

This appeal is from orders and decrees which refused the claim of appellant for a lien or preferred priority on and in the money in the hands of the receivers of Big Three Dodge, Inc.

Big Three Dodge, Inc., sold automobiles and appellant, Associates Discount Corporation, was in the business of floor planning automobiles for it, and the floor planning was done through the use of trust receipts authorized under the Uniform Trust Receipts Act, Tit. 39, §§ 191(4) — 191(22), Code 1940, as amended.

The trust receipts involved were three party trust receipts on new automobiles. When…