Morgan County Feeders, Inc. v. McCormick
Colorado Court of Appeals
836 P.2d 1051 (1992)
Relevant factsFree
Neil Allen owned 56 cattle used principally for recreational cattle drives (sometimes leased to others), subject to Morgan County Feeders' (Morgan) (plaintiff) perfected security interest; Allen sold the cattle to McCormick (defendant), but Morgan took possession before delivery could occur. The trial court ruled for Morgan, finding the cattle were "equipment" rather than "inventory" (and thus subject to Morgan's security interest despite the sale), and McCormick appealed.
IssueFree
Whether all goods owned by a business are inventory.
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