CENTRAL NAT'L BK. OF MATTOON v. Worden-Martin, Inc.

This appeal concerns priority as between a seller of an automobile who claims title to it, and a bank which claims a security interest in it. The basic dispute revolves about a question as to the necessity of formal transfer of title. This, in turn, requires an analysis of related sections of the Illinois Vehicle Code (Ill. Rev. Stat. 1979, ch. 95½, par. 3 — 201 et seq.) and the Uniform Commercial Code — Secured Transactions (Ill. Rev. Stat. 1979, ch. 26, par. 9 — 101 et seq.).

The object of the controversy is a 1980 Lincoln automobile. It was sold at auction by the Champaign Auto Auction,…