United States v. Ed Lusk Construction Company, Inc.

This is an appeal from a judgment of the district court which held that an unperfected security interest had priority over a subsequent valid federal tax lien on the theory of constructive notice on the part of the Government.

The taxpayer, a corporation which kept its business records in Washington County, Arkansas, entered into a contract with the City of Muskogee, Oklahoma, for the performance of certain construction work. The taxpayer assigned its right to be paid under this contract to the predecessor of the Commercial Bank and Trust Company (ap-pellee) as collateral for loans. The Bank…