Yamaha Motor Corp., USA v. Tri-City Motors & Sports, Inc.

This appeal as of right by plaintiff, Yamaha Motor Corporation, U.S.A., arises from a dispute over the competing security interests of Yamaha and defendant First National Bank and Trust of Menominee in the proceeds from certain motorcycles sold to defendant Tri-City Motors and Sports, Inc. The Menominee Circuit Court ruled in favor of First National, holding that Yamaha was estopped from asserting priority over the bank’s security interest. Accordingly, the court entered a judgment of no cause of action against Yamaha on December 29, 1986. We reverse in part and affirm in part.

On May 3, 1974,…