Matto's, Inc. v. Olde Colonie Place (In Re Matto's, Inc.)

OPINION

GEORGE BRODY, Bankruptcy Judge.

This controversy involves the construction of section 9-402(7) and section 9-306(2) of the Michigan Uniform Commercial Code. The facts are not in dispute and are as follows:

Olde Colonie Place, a Michigan copartnership (“Olde Colonie”), owned certain restaurant equipment, fixtures and inventory which it used in connection with the operation of a restaurant in Rochester, Michigan. In November, 1976, Olde Colonie sold this equipment to F. J. & F. Incorporated, a Michigan corporation (“F. J. & F.”). F. J. & F. executed a promisory note to Olde Colonie for…