RICE INV. CO. v. UNITED STATES

No. 77-2275.

625 F.2d 565 (1980)

RICE INVESTMENT COMPANY, Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

September 4, 1980.


Attorney(s) appearing for the Case

M. Carr Ferguson, Asst. Atty. Gen., Washington, D. C., Gilbert E. Andrews, Chief, App. Section, Crombie J. D. Garrett, Karl Schmeidler, Attys., Tax Div., Dept. of Justice, for defendant-appellant.

William T. Green, III, Houston, Tex., for plaintiff-appellee.

Before GODBOLD, GARZA and RANDALL, Circuit Judges.


RANDALL, Circuit Judge:

In October, 1973, Rice Investment Company ("Rice") loaned Handy Stop, Inc. (the "Debtor") $67,583.20. In connection with the loan, the Debtor executed and delivered to Rice a security agreement pursuant to which the Debtor granted to Rice a security interest in all of the Debtor's inventory then owned or thereafter acquired. A financing statement was filed in the office of the Secretary of State of...

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