Commercial Trading Co. v. Bassin

(dissenting) :

The majority correctly states the question here as “whether Commercial’s *1126secured interest in ‘equipment’ gave it a lien on two Oldsmobile automobiles owned by the bankrupt.” Essentially, this question resolves itself into two very distinct issues: 1) was it the intent of the parties, as expressed in the security agreement, that Commercial could look to these Oldsmobiles as collateral for its loan to the bankrupt; 2) if such was the expressed intent, is the term, “equipment,” a sufficient description of the collateral under §§ 9-110 and 9-203 of the New York Uniform Commercial…