Carnegie Financial Corp. v. Akron National Bank & Trust Co.

This appeal arises from the trial court’s order establishing the priority of liens upon certain automobiles and determining damages involved in the automobile transactions.

Defendant Ash-Li Motors, Inc. (hereinafter referred to as Ash-Li) was an automobile dealership selling Subaru and Triumph automobiles. In November 1973, Ash-Li entered into a financing agreement with plaintiff-appellee, Carnegie Financial Corporation. This agreement provided that plaintiff would pay to the Subaru distributor the invoice price of the Subarus which Ash-Li purchased for inventory. In exchange for this payment,…