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ANTIGO CO-OP CREDIT UNION v. MILLER

No. 76-231.

86 Wis.2d 90 (1978)

271 N.W.2d 642

ANTIGO CO-OP CREDIT UNION, Appellant-Plaintiff, v. MILLER, Respondent-Defendant and Third Party Plaintiff: SPARKS, a/k/a Peggy Sparkes Lazy Acres Appy Ranch, Route 2-Box 12-B, Junction City, Wisconsin 54443, Respondent-Third Party Defendant.

Supreme Court of Wisconsin.

Decided November 28, 1978.

Attorney(s) appearing for the Case

For the appellant there was a brief and oral argument by Rex M. Smith of Antigo.

For the respondent there was a brief by Richard J. Heitman and Rice & Abbott and oral argument by Richard J. Heitman of Sparta.

HEFFERNAN, J.

The principal issue presented on this appeal is whether a buyer in the ordinary course of business takes free of a security interest when the secured party did not know that the seller was in the business of selling goods of the kind which constituted the collateral. We conclude that a buyer under those circumstances takes free of the security interest even though that security interest is perfected by proper execution and filing of a financing statement...

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