S. MISS. FINANCE CO. v. MISS. TAX COM'N

No. 90-CC-0629.

605 So.2d 736 (1992)

SOUTH MISSISSIPPI FINANCE COMPANY v. MISSISSIPPI STATE TAX COMMISSION and McConnell Cadillac, Inc.

Supreme Court of Mississippi.

June 3, 1992.


Attorney(s) appearing for the Case

A.M. Murphy, Lucedale, for appellant.

Michael Gillion, Miller Hamilton Snider & Odom, M. Kathryn Knight, Miller Hamilton Firm, Mobile, Ala., for appellee.

Before DAN M. LEE, P.J., and ROBERTSON and SULLIVAN, JJ.


ROBERTSON, Justice, for the Court:

I.

This case about an almost new Cadillac turns on principles as old as the law itself. Appellant finance company appears this day as innocent as the driven snow but cannot escape that its borrower's "rights" were born of a felonious fraud. The Circuit Court ruled the original conditional seller holder of a first perfected security interest. We affirm.

II.

In the Summer of 1989, near the end of the model...

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