Commercial Reasonableness Of Sale

57 Florida cases classified under this topic · sorted by citation count · see the citation graph · browse and sort

• In re TCI Ltd.
  769 F.2d 441· 7th Cir.· 1985-08-01 ·cited 112×
  An attorney who multiplies proceedings unreasonably and vexatiously may be personally liable for the adversary's costs and fees under 28 U.S.C. § 1927, even without subjective malice, if the conduct is objectively unreasonable.
• Fed. Deposit Ins. Corp. v. Meyer
  781 F.2d 1260· 7th Cir.· 1986-01-16 ·cited 58×
  The sale of the property moots the appeal of the foreclosure decree because the appellants failed to obtain a stay of enforcement. Margaret Meyer's appeal of the judgment on the guaranty is not moot, but her arguments regarding the sufficiency of the FDIC's affidavit were waived
• In re Bialac v. Bialac
  712 F.2d 426· 9th Cir.· 1983-08-04 ·cited 56×
  A pre-foreclosure right to redeem collateral, even if held by a debtor with only a fractional interest, constitutes 'property of the estate' protected by the automatic stay under 11 U.S.C. § 362.
• J.R. Carter v. Cessna Fin. Corp.
  498 So. 2d 1319· Fla. 4th DCA· 1986-12-03 ·cited 34×
  Carter appealed a deficiency judgment following the forced sale of a repossessed aircraft, claiming the sale was not commercially reasonable because he was not given notice of the aircraft's location and thus could not inspect it. The court affirmed the summary judgment, finding
• Nw. Acceptance Corp. v. Lynnwood Equip., Inc.
  841 F.2d 918· 9th Cir.· 1988-03-04 ·cited 32×
  The court affirmed the district court's judgment, holding that the security agreement, not the financing statement, defined the extent of the security interest, and that various claims and counterclaims were either without merit, waived, or barred by law.
• United States v. Conrad Publ'g Co.
  589 F.2d 949· 8th Cir.· 1978-12-29 ·cited 30×
  The dissenting judge held that the sale of collateral was commercially reasonable under U.C.C. § 9-504(3), and the District Court's contrary finding was clearly erroneous.
• In re The TWO "S" Corp. v. SUN Nat'l Bank
  875 F.2d 240· 9th Cir.· 1989-05-23 ·cited 26×
  The price obtained at a court-ordered, commercially reasonable sale conclusively determines the value of the asset for the purpose of determining the extent of secured claims.
• United States v. Meadors
  753 F.2d 590· 7th Cir.· 1985-01-24 ·cited 23×
  The court held that the appellant's signature on the guaranty lacked consideration because it was not bargained for, requested, or relied upon by the SBA, and therefore the guaranty is not enforceable on that basis. However, the court reversed and remanded on the issue of interes
• The Barnett Bank OF Tallahassee v. Campbell
  402 So. 2d 12· Fla. 1st DCA· 1981-06-17 ·cited 21×
  Barnett Bank sought a deficiency judgment against Campbell, a guarantor of a promissory note secured by business equipment and motor vehicles, after the collateral was sold following the debtor corporation's bankruptcy. The court affirmed the trial court's denial of the deficienc
• United States v. Lattauzio
  748 F.2d 559· 10th Cir.· 1984-11-21 ·cited 20×
  Guarantors waived the defense that the collateral was not sold in a commercially reasonable manner by signing an unconditional guaranty agreement.
• United States v. Whitehouse Plastics
  501 F.2d 692· 5th Cir.· 1974-09-27 ·cited 20×
  Failure to provide reasonable notice of a collateral sale does not automatically bar a deficiency judgment, but rather shifts the burden to the secured party to prove the collateral's fair market value did not exceed the sale proceeds.
• United States v. Jones
  707 F.2d 1334· 11th Cir.· 1983-06-24 ·cited 14×
  Federal law, specifically SBA regulations, pre-empts state law and prevents a private guarantor from claiming pro rata contribution from the SBA, as the SBA is explicitly not a co-guarantor.
• In re Vitreous Steel Prods. Co.
  911 F.2d 1223· 7th Cir.· 1990-08-07 ·cited 12×
  The court held that while the bankruptcy court properly lifted the automatic stay, the determination of that motion did not preclude the prosecution of the adversary complaint. The court also reversed the dismissal of NIPSCO's claim for equitable subordination.
• Transp. Equip. Co. v. Guar. State Bank
  518 F.2d 377· 10th Cir.· 1975-06-26 ·cited 12×
  The court held that the Bank's security interest was not perfected by possession prior to TECO's filing, and that the trial court erred in calculating damages based on the retail value of fully assembled goods.
• United States v. Bertie
  529 F.2d 506· 9th Cir.· 1976-01-26 ·cited 11×
  The court held that the SBA did not breach any duty to the guarantors by its bid at the trustee sale, and that the conveyances of real property were properly set aside as fraudulent under Idaho law.
• Trisha L. Ciffo v. Pub. Storage Mgmt., Inc.
  622 So. 2d 1053· Fla. 4th DCA· 1993-07-28 ·cited 10×
  Trisha Ciffo appeals a summary judgment dismissing her conversion claim against a public storage company. The trial court relied on a prior summary judgment against her from an earlier lawsuit, but the appellate court reverses, holding that the prior judgment's bar on her standin
• In re Excello Press, Inc.
  890 F.2d 896· 7th Cir.· 1989-11-20 ·cited 10×
  The court held that the district court's determination that Metlife failed to provide adequate notice of the sale of collateral and failed to rebut the presumption of value was not clearly erroneous, thus affirming the judgment.
• Williams v. Kloeppel
  537 So. 2d 1033· Fla. 1st DCA· 1988-12-29 ·cited 10×
  Williams, a secured creditor, repossessed and sold a boat after the debtor defaulted, but the trial court applied the doctrine of estoppel to bar his deficiency judgment claim based on an inconsistent valuation stated in the replevin complaint. The appellate court reversed, holdi
• United States v. Warwick
  695 F.2d 1063· 7th Cir.· 1982-12-22 ·cited 10×
  The court held that the appellants were principals on the note, not sureties, and that even if they were sureties, they waived their right to release due to loan modifications. The court also held that the sale of collateral was commercially reasonable.
• United States v. Irby
  618 F.2d 352· 5th Cir.· 1980-06-05 ·cited 10×
  The court held that Mississippi real property law, not the Uniform Commercial Code, governs the reasonableness of a foreclosure sale of real property interests, and that sovereign immunity does not bar counterclaims arising from the same transaction as the government's claim.
• Credit Alliance Corp. v. Williams
  851 F.2d 119· 4th Cir.· 1988-07-05 ·cited 9×
  The automatic stay provision of the Bankruptcy Code does not apply to non-bankrupt guarantors, and res judicata bars relitigation of defenses to a default judgment.
• United States v. Paccione
  948 F.2d 851· 2d Cir.· 1991-11-04 ·cited 8×
  The court held that the government waived its right to substitute assets for cash forfeiture by entering into a letter agreement that provided a specific mechanism for enforcing a money judgment.
• Land v. Cessna Aircraft Co.
  466 So. 2d 1265· Fla. 1st DCA· 1985-04-15 ·cited 8×
  A secured creditor who pursues replevin and sale of collateral is subsequently entitled to sue for a deficiency judgment under the Uniform Commercial Code.
• In re Bishop v. Bishop
  482 F.2d 381· 4th Cir.· 1973-07-18 ·cited 8×
  The court held that a bankruptcy court may deny a stay of discharge if the creditor's underlying claim is invalid under state law, particularly when the creditor failed to comply with Uniform Commercial Code requirements for selling repossessed collateral.
• In re DeVITA Fruit Co. v. FCA Leasing Corp.
  473 F.2d 585· 6th Cir.· 1973-02-13 ·cited 8×
  The court held that a lease agreement, where the lessor retains title and there is no option for the lessee to purchase the property for nominal consideration, is a bona fide lease and not a security interest, entitling the lessor to reclaim the property from the bankruptcy trust
• SUN Bank/Miami, N.A. v. Arnold
  575 So. 2d 798· Fla. 4th DCA· 1991-03-13 ·cited 7×
• Sorrels v. Rebecca's ICE Cream, Inc.
  696 So. 2d 1313· Fla. 2d DCA· 1997-07-18 ·cited 6×
  Appellants purchased an ice cream shop's assets with a promissory note secured by a security agreement, then defaulted. The trial court awarded damages to the seller after the seller resold the collateral to third parties. The appellate court partially affirmed, but reversed on t
• Interfirst Bank Clifton v. Fernandez
  844 F.2d 279· 5th Cir.· 1988-05-11 ·cited 6×
  The court held that personal jurisdiction was properly exercised over the defendant, Texas law was correctly applied, and the sale of the repossessed aircraft was commercially reasonable.
• Ocean Servs. Towing & Salvage, Inc. v. Brown
  810 F. Supp. 1258· S.D. Fla.· 1993-01-07 ·cited 5×
  The court held that Ocean Services was entitled to a salvage award of $8,000, considering the factors of danger, salved value, risk, skill, property value, and costs, and that the sale price of the vessel was the best indicator of its post-casualty value.
• Lamp Fair, Inc. v. Perez-Ortiz
  888 F.2d 173· 1st Cir.· 1989-10-25 ·cited 4×
  A secured creditor cannot both retain collateral for its own use and obtain a deficiency judgment against the debtor under Article 9 of the Uniform Commercial Code.
• Apex OIL Co. v. The Belcher Co. OF NEW York, Inc.
  855 F.2d 997· 2d Cir.· 1988-08-30 ·cited 4×
  A seller may recover resale damages under UCC § 2-706 even if the resold goods are not the exact goods originally identified to the contract, provided the resale is commercially reasonable and the goods are fungible. However, the resale must accurately reflect the market value of
• In re Millard Kennedy and Glenwodyne B. Kennedy v. Millard Kennedy and Glenwodyne B. Kennedy
  785 F.2d 1553· 11th Cir.· 1986-04-08 ·cited 4×
  The court held that the Kennedys did not waive their right to notice and that federal regulations did not preempt state notice requirements. The court certified a question of state law to the Georgia Supreme Court.
• Cont'l Ctr., Inc. v. Walter E. Heller & Co. OF Fla.
  415 So. 2d 751· Fla. 3d DCA· 1982-05-18 ·cited 4×
  The court held that while Continental Center, as a successor in interest, could challenge the commercial reasonableness of the sale of collateral, the Uniform Commercial Code provisions regarding notice and sale of personalty did not apply to the real estate mortgage.
• Winfield v. First NEW Haven Nat'l Bank
  392 So. 2d 957· Fla. 4th DCA· 1980-12-31 ·cited 4×
  First New Haven National Bank sued to recover on a default retail installment sales contract for an aircraft. The bank obtained a summary final judgment against appellant Winfield, who had personally guaranteed the debt. Appellant appealed the denial of her Rule 1.540 motion for
• C.I.T. Corp. v. LEE Pontiac, Inc.
  513 F.2d 207· 9th Cir.· 1975-04-04 ·cited 4×
  The court held that the trial court's findings regarding the reasonable value of the repossessed aircraft and the commercial reasonableness of the sale were not clearly erroneous, and that the Idaho usury statute did not apply to the time-price differential in the installment pur
• Citi-Lease Co. v. Ent. Fam. Style, Inc.
  825 F.2d 1497· 11th Cir.· 1987-08-27 ·cited 3×
  The court held that the contract created a security interest, and the lessor's failure to provide notice of repossession and sale of the collateral forfeited its right to a deficiency judgment.
• Gray v. Giant Wholesale Corp.
  758 F.2d 1000· 4th Cir.· 1985-04-04 ·cited 3×
  The court affirmed the district court's judgment, holding that the creditor had a perfected security interest, did not receive voidable preferential transfers, and was not subject to bulk transfer provisions, and that the sale of repossessed collateral was commercially reasonable
• The Christian Broad. Network, Inc. v. Turner Commc'ns Corp.
  368 So. 2d 1345· Fla. 4th DCA· 1979-03-14 ·cited 3×
  Christian Broadcasting Network appealed the trial court's dismissal of its breach-of-lease claim in a receivership proceeding for Sun World Broadcasters. The court reversed, holding that the claim was provable because its amount could be determined on the date it was filed within
• Velazquez v. S. Fla. Fed. Credit Union
  89 So. 3d 952· Fla. 3d DCA· 2012-04-18 ·cited 2×
  Appellants defaulted on a boat loan secured by a ship mortgage and sought review of a summary judgment for a deficiency after the vessel was repossessed and sold. The court affirmed the judgment, finding the credit union's actions complied with applicable law, but cautioned again
• Gangelhoff v. Transamerica Commercial Fin. Corp.
  611 So. 2d 1333· Fla. 2d DCA· 1993-01-13 ·cited 2×
  Gangelhoff appealed a summary judgment awarding Transamerica a deficiency judgment of over $100,000 following the repossession and sale of collateral from his business. The court reversed, finding that genuine issues of material fact existed regarding the commercial reasonablenes
• Fed. Deposit Ins. Corp. v. Lanier
  926 F.2d 462· 5th Cir.· 1991-03-18 ·cited 2×
  The court held that the guarantors received adequate notice of the collateral sale under Texas law, and the sale was commercially reasonable, thus affirming the deficiency judgment.
• Sogelease Corp. v. McGEHEE Publ'g Co., Inc.
  876 F.2d 53· 8th Cir.· 1989-05-24 ·cited 2×
  The court held that the trial court's reliance on inadmissible hearsay evidence, even in a bench trial, was too risky to affirm the judgment without clarification.
• Credit Alliance Corp. v. Timmco Equip., Inc.
  507 So. 2d 657· Fla. 4th DCA· 1987-04-22 ·cited 2×
  The court held that the trial court had jurisdiction to consider damages from a commercially unreasonable sale of repossessed collateral and that the correct usury statute applied based on the loan's origination date.
• K.B. OIL Co. v. Ford Motor Credit Co., Inc.
  811 F.2d 310· 6th Cir.· 1987-02-10 ·cited 2×
  The court held that a commercial buyer's repeated acceptance of late payments did not waive the creditor's right to repossess upon default, and that the resale of repossessed collateral was commercially reasonable.
• Chem. Sales Co., Inc. v. Diamond Chem. Co., Inc.
  766 F.2d 364· 8th Cir.· 1985-06-28 ·cited 2×
  The court held that the jury instructions on conversion were inadequate, requiring reversal and remand for a new trial.
• Pers. JET, Inc. v. Callihan
  624 F.2d 562· 5th Cir.· 1980-08-20 ·cited 2×
  The court held that the conveyances of aircraft were made for fair consideration and without fraudulent intent, and that the Bank's security interests under the Uniform Commercial Code were superior to Callihan's judgment lien.
• Riblet Tramway Co. v. Monte Verde Corp.
  453 F.2d 313· 10th Cir.· 1972-01-07 ·cited 2×
  A foreign corporation's failure to obtain a certificate to transact business in New Mexico does not bar a suit if its activities constitute primarily interstate commerce and not substantial intrastate business, and the court may retain jurisdiction to supervise the disposition of
• Patterson v. Fed. Deposit Ins. Corp.
  918 F.2d 540· 5th Cir.· 1990-12-06 ·cited 1×
  12 U.S.C. § 1823(e) does not preclude a borrower from asserting homestead rights under Texas law, even if the deed of trust contains a disclaimer, as long as the claim is not based on a separate agreement intended to deceive the FDIC. The denial of a directed verdict on the comme
• Dietrich v. Key Bank, N.A.
  693 F. Supp. 1112· S.D. Fla.· 1988-08-19 ·cited 1×
  Parties to a ship mortgage can contractually agree to use state law self-help remedies for repossession and private foreclosure, and such an agreement permits a deficiency judgment. Federal law provides the exclusive judicial foreclosure mechanism, but does not preclude contractu
• Shurgard Income Props. Fund 16-Limited P'ship v. Muns
  761 So. 2d 340· Fla. 4th DCA· 1999-10-27
  Shurgard appealed a jury verdict awarding Muns $98,600 for improper sale of his stored property, arguing that the Self-Storage Facility Act does not create a private cause of action. The Florida Fourth District Court of Appeal agreed, holding that the Act was designed to benefit