Which of the following was the result in Bayer CropScience, LLC v. Stearns Bank Nat'l Ass'n., the case in the text in which the court assessed proceeds after a lawsuit involving Bayer CropScience and the introduction of genetically altered rice that damaged equipment?
A) The court ruled that some portion of the proceeds were attributable to damage to Texana's equipment which was subject to Stearns' security interest.
B) The court ruled that Bayer CropScience had perfected their interest with another bank and did not have an obligation to share proceeds with Stearns.
C) The court ruled that the case be remanded to the lower court to settle the issues of who perfected their interest first.
D) The court ruled that the creditor was entitled to the full settlement proceeds, without consideration of the amount of the debt, on the basis that it had a secured interest.
E) The court ruled that Stearn had not properly perfected their security interest and therefore had no rights to any of the proceeds.

Question

Quizplus · Accepted Answer

The court determined that a portion of the settlement proceeds from the lawsuit were related to the damage of Texana's equipment, which was covered under Stearns' security interest, thus entitling them to a share of the proceeds.

Which of the Following Was the Result in Bayer CropScience