Womack v. Newman Fixture Co.

In this opinion, the majority at least tacitly recognizes that the description contained in the bank’s financing statement is inadequate. Yet, it is being held that this description should be deemed adequate because of certain facts presumed to have been known by appellee’s agent, Newman. Assuming for the moment that “actual knowledge” is relevant to a determination as to whether a description is sufficient, it is unclear to me whether the majority is holding that Newman actually knew of the bank’s prior security interest, or whether he was possessed of sufficient knowledge such that he…