Security Pacific National Bank v. Goodman

Opinion

FILES, P. J.

This is a controversy over the ownership of a boat, involving the effect of the registration law in the Harbors and Navigation Code and several provisions of the Uniform Commercial Code concerning sales and secured transactions.

On August 11, 1965, Mr. and Mrs. Redinger borrowed from Security First National Bank (now Security Pacific National Bank) the sum of $7,725.60, repayable at the rate of $128.76 each month, and executed an agreement granting to the bank a security interest in a 27-foot motor boat. Soon afterwards an undocumented vessel certificate of ownership was…