From our private database of 30,500+ case briefs...
Kunkel v. Sprague National Bank
United States Court of Appeals for the Eighth Circuit
128 F.3d 636 (1997)
John and Dorothy Morken granted Sprague National Bank (Sprague) (defendant) a security interest in their inventory. Sprague perfected by filing. Hoxie Feeders, Inc. (Hoxie) (defendant) sold Morken an interest in cattle and reserved a purchase-money security interest (PMSI). Hoxie perfected by taking possession. The Morkens entered Chapter 11 bankruptcy. Hoxie sold the cattle. Bankruptcy trustee Kunkel (plaintiff) sued to determine who had the right to the proceeds. Sprague and Hoxie moved for summary judgment. The bankruptcy court concluded that both had perfected security interests, but that Hoxie had superpriority as a PMSI holder. The bankruptcy court granted Hoxie summary judgment, and Sprague appealed. The district court affirmed, concluding that a PMSI holder who perfects by taking possession need not give notice or, alternately, that Morken did not have sufficient “rights in the collateral” to give a security interest.
Rule of Law
Holding and Reasoning (Gibson, 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 551,000 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 551,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 30,500 briefs, keyed to 984 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.