It is standard operating procedure in the equipment leasing industry for lessors and similarly situated creditors to take all steps necessary and appropriate to perfect their security interests in the assets so leased or financed.
Who Benefits?
An anlysis of the recent case of <i>Rush v. U.S. Bancorp Equipment Finance, Inc.</i>, __ S.D. Rep. ___ (2007 SD 119, Nov. 14, 2007). There, the plaintiff put forth the novel contention that the creditor/defendant should have protected the debtor's financial condition by perfecting the creditor's interest.
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