C. O. Funk & Sons, Inc. v. Sullivan Equipment, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that section 1-103 specifically directs that the UCC be supplemented by principles of law and equity
• recognizing lowest intermediate balance rule as an appropriate method of tracing
• recognizing lowest interme- diate balance rule as an appropriate method of tracing
• argument that security interest in proceeds terminates when deposited in bank account because identification is impossible has found little favor in the courts
• “We find no principles in law or equity which dictate that the innocent third party must suffer the consequences of Funk’s predicament. . . . Funk failed to offer the proof required to identify the claimed proceeds and is not now entitled a second opportunity to do so.”

Source: CourtListener parenthetical corpus (CC0).