In re McAlmont
United States Bankruptcy Court for the Southern District of Ohio
385 B.R. 191 (2008)
On June 2, 2006, George McAlmont (debtor) purchased a motorcycle from Ackers Inc., d/b/a ASK (ASK). McAlmont and ASK entered into an installment contract in which McAlmont agreed to pay for the motorcycle in installments and give ASK a purchase-money security interest in the motorcycle. On the same day, McAlmont took possession of the motorcycle and ASK assigned the contract to Guardian Finance Company (Guardian) (creditor). However, Guardian did not notate its security interest on the motorcycle’s certificate of title until July 1, 2006. Thereafter, McAlmont filed for Chapter 7 bankruptcy. During bankruptcy proceedings, the bankruptcy trustee sought to avoid Guardian’s interest pursuant to 11 U.S.C. § 544. The bankruptcy trustee argued that Guardian had failed to perfect its purchase-money security interest because it had notated the interest on the motorcycle’s certificate of title outside of the 20-day period referenced in Uniform Commercial Code (UCC) § 9-324. Guardian maintained that, whether or not it had notated the interest within the 20-day period, it had perfected the interest before the bankruptcy filing, rendering its interest unavoidable.
Rule of Law
Holding and Reasoning (Hoffman, Jr., J.)
What to do next…
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 710,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
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 710,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 44,600 briefs, keyed to 983 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.