Bank of Hendersonville v. Red Baron Flying Club, Inc.

OPINION

With the concurrence of participating judges, the original opinion has been abridged for publication.

TODD, Judge.

The defendant, Red Baron Flying Club, Inc., has appealed from the Chancellor’s decree sustaining the lien claim (security interest) of the plaintiff, Bank of Hender-sonville, in respect to an aircraft purchased by appellant from Mid-South Aviation, Inc.

The facts are uncontroverted. Mid-South, an aircraft dealer, sold to Red Baron the subject aircraft out of its (Mid-South’s) stock of several aircraft. The plane was paid for by cashier’s check. At the time, the appellee bank…