Opinion ID: 1180370
Heading Depth: 1
Heading Rank: 3

Heading: Priority of Interests

Text: The declared policy of the Colorado Uniform Commercial Code requires that a security agreement shall be effective between the parties and against other parties, except as is specifically provided otherwise in the Code. C.R.S.1963, XXX-X-XXX. The priority provisions of the Code delineate which interests in goods are superior to unperfected security interests. C.R.S.1963, XXX-X-XXX. The right to reclaim goods conveyed as part of a cash sale transaction created by C.R.S.1963, XXX-X-XXX(2), is not one of the interests which is listed as having priority over an unperfected security interest. Therefore, the bank's unperfected security interest, under the facts presented in this case, had priority over Guy Martin Buick's right to reclaim the automobiles. Accordingly, we affirm the Court of Appeals. GROVES, J., concurs in result. DAY, J., dissents.