Study Aids
Case Briefs Overview
Casebooks
Case Briefs
I

In re Amex-Protein Development Corp.

504 F.2d 1056 (1974)

From our private database of 46,400+ case briefs, written and edited by humans—never with AI.

In re Amex-Protein Development Corp.

United States Court of Appeals for the Ninth Circuit
504 F.2d 1056 (1974)

  • Written by Sheryl McGrath, JD

Facts

Plant Reclamation (PR) (creditor) sold equipment to Amex-Protein Development Corporation (Amex) (debtor). Initially—prior to 1972—PR and Amex used an open-account method of sale, which allowed Amex to pay for the equipment after delivery. In 1972, PR and Amex executed a promissory note for the amount Amex owed to PR. The promissory note, which was typewritten, included a handwritten statement reading, “This note is secured by a Security Interest in subject personal property as per invoices.” In addition, a financing statement was recorded. The financing statement listed five specific pieces of equipment covered by the financing statement. Subsequently, Amex filed for bankruptcy. In the bankruptcy action, PR entered invoices into evidence and claimed that PR had a valid security interest in the equipment described in the invoices. The evidence in the bankruptcy action established that both PR and Amex intended that the equipment would be collateral for a security interest. The bankruptcy referee rejected PR’s claim and held that PR did not have a security interest in the equipment. PR appealed to the district court. The district court reversed the referee and held that PR had a valid security interest in the equipment. The bankruptcy trustee appealed.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 832,000 law students since 2011. Some law schools even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 832,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,400 briefs, keyed to 994 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 832,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,400 briefs - keyed to 994 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Secured Transactions

Key Terms