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CITIZENS NAT. BANK OF DENTON v. COCKRELL

No. D-0805.

850 S.W.2d 462 (1993)

CITIZENS NATIONAL BANK OF DENTON and the Federal Deposit Insurance Corporation, as Receiver for Citizens National Bank of Denton, Petitioners, v. John H. COCKRELL, Jr., Respondent.

Supreme Court of Texas.

Rehearing Overruled May 5, 1993.

Attorney(s) appearing for the Case

William L. Smith, Denton, Stuart Johnson, Addison, J. Scott Watson, Washington, DC, Paul C. Wolf, Dallas, for petitioners.

S. Stewart Frazer, Johnette Oden, Dallas, for respondent.

OPINION

PHILLIPS, Chief Justice.

The issue in this case is whether a seller of equipment timely filed financing statements reflecting his purchase money security interest. To decide this question, we must determine when the purchaser received possession of the equipment. We conclude that as a matter of law the purchaser's control over the equipment after sale constituted "possession" within the meaning of TEX.BUS. & COM. CODE § 9.312(D), and we...

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