Goodin v. South Atlantic Production Credit Ass'n
Goodin v. South Atlantic Production Credit Ass'n
Opinion of the Court
Insofar as they are relevant to this appeal, the facts are as follows: In 1982, appellee-plaintiff perfected a security interest by filing a financing statement which identified the collateral as “[a]ll farm machinery and equipment, tractors, tilling and harvesting tools of every kind and description owned by Debtors.” In 1985, OCGA § 11-9-310 (2), relating to the priority as between a mechanic’s lien and a perfected security interest in the same farm machinery and equipment became effective. In 1987, pursuant to OCGA § 11-9-403 (3), appellee filed a timely continuation statement. In 1990, appellant-defendant acquired a mechanic’s lien as to the following pieces of the
1. OCGA § 11-9-310 (2) provides: “A mechanics’ lien on farm machinery or equipment arising on or after July 1, 1985, shall have priority over any perfected security interest in such farm machinery or equipment unless a financing statement has been filed as provided in Code Section 11-9-401 and unless the financing statement describes the particular piece of farm machinery or equipment to which the perfected security interest applies. Such description may include the make, model, and serial number of the piece of farm machinery or equipment. However, such description shall be sufficient whether or not it is specific if it reasonably identifies what is described and a mistake in such description shall not invalidate the description if it provides a key to identifying the farm machinery or equipment.” (Emphasis supplied.)
Appellee’s financing statement did not merely describe the collateral in such general terms as “farm machinery and equipment.” It described it as “all farm machinery and equipment.” (Emphasis supplied.) Moreover, it further specified the collateral as including particular pieces of farm machinery and equipment, such as “tractors, tilling and harvesting tools of every kind and description owned by Debtors.” The financing statement did not include the make, model, or serial numbers of the “tractors, tilling and harvesting tools. . . .” However, OCGA § 11-9-310 (2) does not require such specifics. All that OCGA § 11-9-310 (2) requires is a reasonable identification and even a mistaken description will suffice so long as a key to identification is provided.
“[I]t is not wholly necessary that the physical description appearing of record be sufficient in itself to identify the property, it must [only] raise a warning flag, as it were, providing a key to the identity of the property. [Cit.]” Peoples Bank v. Northwest Ga. Bank, 139 Ga. App. 264, 268 (2) (228 SE2d 181) (1976) (construing OCGA § 11-9-110). The description in appellee’s financing statement was clearly sufficient to raise a “warning flag” as to the “tractors, tilling and har
2. Since the financing statement satisfies the requirements of OCGA § 11-9-310 (2), we need not address appellee’s “right for any reason” argument that that statute does not apply to financing statements filed before July 1, 1985.
Judgment affirmed.
Reference
- Full Case Name
- GOODIN v. SOUTH ATLANTIC PRODUCTION CREDIT ASSOCIATION
- Cited By
- 1 case
- Status
- Published