United States v. Samel Refining Corporation ( 1972 )

KALODNER, Circuit Judge

(dissenting).

I disagree with the majority’s ruling that in the instant case “the security deposit was a contract right within the meaning of the Code and was thus covered by the perfected security agreement of appellee Drew.”

I am of the opinion that the right of return of a security deposit under a real estate lease is not a “contract right” within the meaning of the Uniform Commercial Code, as defined in Section 9-106. That being so, I would, without more, reverse the Order of the District Court granting summary judgment in favor of the appellee E. F. Drew & Co., Inc. and remand the cause with directions to enter summary judgment in favor of the United States.