In re Murphy

Murphy obtained a Best Buy consumer credit card issued by Capital One, whose application and cardholder agreement both stated that the bank held a purchase-money security interest in goods bought with the card. Murphy used the card to buy electronics from Best Buy, later defaulted, and filed for bankruptcy. In the bankruptcy proceeding, Murphy argued the electronics weren't subject to any security interest because the credit agreement's description of the collateral — goods purchased on the account — wasn't specific enough, and moved the bankruptcy court for a ruling to that effect.