Uniform Commercial Code Article 9

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

• BVA Credit Corp. v. Fisher
  369 So. 2d 606· Fla. 1st DCA· 1978-09-21 ·cited 7×
  BVA Credit Corporation appealed a trial court judgment that limited its damages recovery against guarantors of a defaulted equipment lease. The appellate court reversed, holding that a lessor may re-let and sell equipment after default and recover the deficiency from the original
• 1944 Beach Boulevard, LLC v. Live Oak Banking Co.
  20 F.4th 746· 11th Cir.· 2021-12-10 ·cited 6×
  The court certified a question of Florida law regarding the interpretation of the safe harbor provision for financing statements to the Florida Supreme Court.
• In re Merritt Dredging Co., Inc. v. Campbell-Appellee
  839 F.2d 203· 4th Cir.· 1988-02-12 ·cited 6×
  The dissenting judge would hold that the transaction is governed by Louisiana law, which would classify the agreement as a lease with an option to purchase, thus favoring Compliance Marine's claim.
• United States v. Collingwood Grain, Inc.
  792 F.2d 972· 10th Cir.· 1986-06-03 ·cited 6×
  The court held that a financing statement for growing crops requires a description of the land concerned, but not necessarily a full legal description or the landowner's name, as long as it provides sufficient clues for reasonable identification.
• First Maryland Leasecorp. v. The M/V Golden Egret
  764 F.2d 749· 11th Cir.· 1985-07-01 ·cited 6×
  The court held that FML's security interest attached to all six hulls due to cross-collateralization, that the mutual release was ineffective, that intervenors' watercraft liens were superior to FML's security interest, that a six-month statute of limitations applied to watercraf
• In re Maryville Sav. & Loan Corp. v. McDONALD
  743 F.2d 413· 6th Cir.· 1984-09-12 ·cited 6×
  The court held that UCC Article 9 applies to the security interest in the promissory notes but not to the security interest in the deeds of trust securing those notes.
• Contrail Leasing P'rs, Ltd. v. Consol. Airways, Inc.
  742 F.2d 1095· 7th Cir.· 1984-08-31 ·cited 6×
  The court held that the district court erred in calculating damages by failing to include accrued interest and propeller repair costs as deductible expenses for the secured creditor, and that the valuation of the collateral was not adequately supported. The case is remanded for r
• Pontchartrain State Bank v. Poulson
  684 F.2d 704· 10th Cir.· 1982-08-04 ·cited 6×
  The court affirmed the decision, holding that the Bank failed to perfect its security interest because the financing statement did not bear the signature of the owner of the collateral.
• Thorp Commercial Corp. v. Northgate Indus., Inc.
  654 F.2d 1245· 8th Cir.· 1981-07-21 ·cited 6×
  The court held that a financing statement describing collateral as "assignment accounts receivable" is sufficient under Minnesota's Uniform Commercial Code to perfect a security interest in after-acquired accounts receivable, as it provides adequate notice to subsequent creditors
• Suburbia Fed. Sav. & Loan Ass'n & Irving Krassner v. Bel-Air Conditioning Co., Inc.
  385 So. 2d 1151· Fla. 4th DCA· 1980-07-09 ·cited 6×
  Article 9 of the Uniform Commercial Code (UCC) supersedes Florida Statute § 726.09 as applied to retain title contracts that qualify as security interests under the UCC.
• In re Schwab v. Schwab
  613 F.2d 1279· 5th Cir.· 1980-03-17 ·cited 6×
  The court held that the bankruptcy court retained jurisdiction to disallow secured status to a portion of a claim, and that the creditor's security interest in growing crops was not perfected due to insufficient description of the real estate in the financing statement under Colo
• In re Keidel v. Keidel
  613 F.2d 172· 7th Cir.· 1980-01-17 ·cited 6×
  The court held that the bank's unperfected security interest in the mobile home was subordinate to the trustee's rights because perfection was not completed before the bankruptcy filing date.
• Major's Furniture Mart, Inc. v. Castle Credit Corp., Inc.
  602 F.2d 538· 3d Cir.· 1979-06-20 ·cited 6×
  The court held that the agreement between Major's and Castle Credit, despite its form as a sale of accounts receivable, constituted a secured loan under the Uniform Commercial Code, requiring Castle to account for any surplus proceeds.
• United States v. The Valley Nat'l Bank
  524 F.2d 199· 9th Cir.· 1975-08-22 ·cited 6×
  The court held that the assignments of broker's commissions to the banks created valid security interests under Arizona law, giving them priority over the later-filed federal tax liens.
• HSBC Bank USA v. Buset
  241 So. 3d 882· Fla. 3d DCA· 2018-02-07 ·cited 5×
  A trial court's order granting an involuntary dismissal following a nonjury trial is a final, appealable order when it contains language entering judgment, and the trial court's reservation of jurisdiction to award attorney's fees or impose sanctions does not affect the finality
• Dep't OF Transp. v. United Cap. Funding Corp.
  219 So. 3d 126· Fla. 2d DCA· 2017-04-28 ·cited 5×
  The Florida Department of Transportation appealed a summary judgment requiring it to pay United Capital Funding Corp., the assignee of accounts receivable originally owed to vendor Arbor One, despite the DOT's continued payment to Arbor One after notice of assignment. The court h
• Mirage Resorts v. Quiet Nacelle Corp.
  206 F.3d 1398· 11th Cir.· 2000-03-24 ·cited 5×
  Mirage Resorts obtained a judgment against Quiet Nacelle Corporation and garnished bank accounts before Quiet Technology, a senior secured creditor, could declare the debtor in default and foreclose its security interest. The Eleventh Circuit held that the district court lacked s
• 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.
• Transamerica Ins. Co. v. Barnett Bank OF Marion Cnty., N.A.
  524 So. 2d 439· Fla. 5th DCA· 1988-03-24 ·cited 4×
  Transamerica Insurance Company (surety) appealed a summary judgment in favor of Barnett Bank of Marion County regarding priority claims to earned but unpaid construction contract payments when a contractor defaults. The Fifth District Court of Appeal held that a financing bank's
• S.E.L. Maduro (Florida) Inc. v. Strachan Shipping Co.
  800 F.2d 1572· 11th Cir.· 1986-10-08 ·cited 4×
  An unperfected security interest has priority over a general unsecured creditor's claim, and a right of setoff cannot abrogate a valid security interest.
• Colonial Lincoln-Mercury, Inc. v. Musgrave
  749 F.2d 1092· 4th Cir.· 1984-12-03 ·cited 4×
  The court affirmed the grant of judgment n.o.v. for the sellers on the purchasers' fraud claims, finding insufficient evidence of material misrepresentation, fraudulent intent, or reasonable reliance. The court vacated and remanded for a jury trial on certain factual issues regar
• Frank v. James Talcott, Inc.
  692 F.2d 734· 11th Cir.· 1982-11-29 ·cited 4×
  The court held that Talcott's perfected security interest in the installment sales contracts and their proceeds takes priority over Frank's unperfected security interest, even though Talcott's interest was acquired later.
• In re Tulsa Port Warehouse Co., Inc. v. Gen. Motors Acceptance Corp. & Chuck Naiman Buick Co.
  690 F.2d 809· 10th Cir.· 1982-10-14 ·cited 4×
  The court held that the "Non-Maintenance Lease Agreements" were in fact security agreements subject to the requirements of Article 9 of the Uniform Commercial Code, not true leases.
• Vern Lettinga v. Agristor Credit Corp.
  686 F.2d 442· 6th Cir.· 1982-08-26 ·cited 4×
  The court held that Agristor's possession and sale of cows not subject to its security interest constituted conversion, but Lettinga failed to prove the identity of most cows in which he held a security interest.
• United States v. Newcomb
  682 F.2d 758· 8th Cir.· 1982-07-15 ·cited 4×
  The court held that the Uniform Commercial Code (UCC) Article 9, as adopted in Missouri, governs security interests in growing crops, and the description of the real estate in the security agreement was adequate.
• United Cntys. Tr. Co. v. MAC LUM
  643 F.2d 1140· 5th Cir.· 1981-05-01 ·cited 4×
  The dissenting judge believes the trial court erred in granting summary judgment for Ollie's, arguing Georgia law should apply and enforce the waiver of defenses.
• In re Flying Mailmen Serv., Inc. v. Herbert K. Lippman in Bankr. of Flying Mailmen Serv., Inc.
  539 F.2d 866· 2d Cir.· 1976-06-21 ·cited 4×
  The dissent argues that a financing statement complying with N.Y.U.C.C. § 9-402 provides sufficient notice to subsequent creditors, even for a stock repurchase agreement.
• In re LAW Research Serv., Inc. v. Martin Lutz App. Printers, Inc.
  498 F.2d 836· 2d Cir.· 1974-05-02 ·cited 4×
  The court held that an assignment of an existing judgment is perfected upon execution and is not a preferential transfer under the Bankruptcy Act, even if filed later.
• 1944 Beach Boulevard, LLC v. Live Oak Banking Co.
  346 So. 3d 587· Fla.· 2022-08-25 ·cited 3×
  The Florida Supreme Court answered a certified question from the Eleventh Circuit regarding the interpretation of a safe harbor statute for defectively named debtors in UCC financing statements. The Court held that because Florida's filing office lacks a 'standard search logic' a
• Textron Fin. Corp. v. Lentine Marine Inc.
  2009 U.S. Dist. LEXIS 33874· S.D. Fla.· 2009-04-20 ·cited 3×
  The court granted partial summary judgment for the plaintiff on claims for inventory sold without repayment, repossession costs, interest, and the guarantors' liability, but denied it on the amount of the deficiency due to issues of commercial reasonableness.
• Dickason v. Marine Nat'l Bank OF Naples, N.A.
  898 So. 2d 1170· Fla. 2d DCA· 2005-04-06 ·cited 3×
  This case addresses a question of first impression in Florida: whether Article 9 of the UCC permits incorporation of a financing statement's collateral description into a security agreement to reflect the parties' intent regarding after-acquired property. The court held that such
• Tropical Jewelers, Inc. v. NationsBANK
  781 So. 2d 381· Fla. 3d DCA· 2000-01-21 ·cited 3×
  A Florida appellate court reversed summary judgment against a company and its individual guarantors in a deficiency action, holding that guarantors cannot waive their UCC rights to require commercially reasonable disposition of collateral, even when the underlying loan documents
• Retha D. Frierson v. United Farm Agency, Inc.
  868 F.2d 302· 8th Cir.· 1989-02-23 ·cited 3×
  A bank's right of setoff against a depositor's funds is triggered when the debt becomes due, which can occur automatically upon the debtor's failure to discharge a judgment within a specified period, even if the bank has not formally declared a default.
• Avant Petroleum, Inc. v. Banque Paribas
  853 F.2d 140· 2d Cir.· 1988-08-04 ·cited 3×
  The court held that a secured party's failure to file continuation statements after depositing funds in an interpleader action does not subordinate its perfected security interest to a later-acquired lien, as the rights of the parties should be determined as of the time the inter
• In re Pac. Caribbean Shipping (U.S.A.), Inc. v. Placedo Shipping Corp. OF Liberia
  789 F.2d 1406· 9th Cir.· 1986-05-20 ·cited 3×
  The Uniform Commercial Code (UCC) Article 9 does not apply to maritime liens on subfreights, and therefore, perfection by filing was not required for the shipowner's lien to prevail against a bankruptcy trustee.
• Cosmopolitan Credit & Inv. Corp. v. Blyth Eastman Dillon & Co.
  507 F. Supp. 954· S.D. Fla.· 1981-02-23 ·cited 3×
  The court held that the defendant was a bona fide purchaser of the GNMA certificates and therefore not liable for conversion, and also granted summary judgment on the 10b-5 claim.
• Aquilla J. Allen and Virginia C. Allen v. Coates
  661 So. 2d 879· Fla. 1st DCA· 1995-10-10 ·cited 2×
  The Allens sold their electrical business corporation's stock to Coates for $150,000, secured by promissory notes. When Coates defaulted and the Allens retook control of the business, they sued for judgment on the full debt. The court affirmed summary judgment for Coates, holding
• In re Holiday Intervals, Inc. v. Jack E. Brown for Holiday Intervals, Inc.
  931 F.2d 500· 8th Cir.· 1991-04-25 ·cited 2×
  The court held that promissory notes, even when included on land sale installment contracts, retain their status as instruments under the UCC.
• In re Heide v. Mading King Cnty. Enters., Inc.
  915 F.2d 531· 9th Cir.· 1990-10-01 ·cited 2×
  The court held that the assignment of a vendor's interest in a real estate contract, which includes the right to receive payments, is a transaction intended to create a security interest in personal property and is therefore governed by Article 9 of the Uniform Commercial Code.
• In re J.D. Allen v. Mich. Nat'l Bank
  888 F.2d 1299· 10th Cir.· 1989-11-02 ·cited 2×
  The court held that the debtor's interest in the Purchase and Escrow Agreement was a 'general intangible' and that the transfer to Michigan National Bank was a contemporaneous exchange for new value, thus not an avoidable preferential transfer.
• In re John O. NIX and wife v. NIX
  864 F.2d 1209· 5th Cir.· 1989-02-08 ·cited 2×
  A Keogh retirement plan is a general intangible subject to a security lien under Article 9 of the Uniform Commercial Code, not a 'bank deposit' excepted from Article 9.
• In re Truman R. Kingsley and Connie Kingsley v. First Am. Bank OF Casselton
  865 F.2d 975· 8th Cir.· 1989-01-26 ·cited 2×
  Federal farm deficiency and diversion payments are not 'proceeds' of crops under North Dakota law and therefore are not covered by a security agreement applying to crops and their proceeds.
• In re Tittabawassee Inv. Co. v. Tittabawassee Inv. Co.
  831 F.2d 104· 6th Cir.· 1987-10-07 ·cited 2×
  A security interest in a Michigan liquor license requires filing a financing statement under the UCC to be perfected; an unperfected security interest is inferior to a perfected security interest and a trustee's lien.
• 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.
• Magnuson v. Jones
  491 So. 2d 1315· Fla. 5th DCA· 1986-08-07 ·cited 2×
  The court held that a beneficiary's interest in a properly created Illinois Land Trust is personal property, allowing for foreclosure under the Uniform Commercial Code, not necessarily a real estate mortgage foreclosure.
• Smith v. Dairymen, Inc.
  790 F.2d 1107· 4th Cir.· 1986-05-14 ·cited 2×
  A creditor's pre-petition security interest in farm products extends to post-petition products if the security agreement covers proceeds and applicable state law permits it, but a non-appealing party cannot benefit from an appeal filed by another party.
• Aeronautics & Astronautics Servs. v. First Palm Beach Int'l Bank
  471 So. 2d 188· Fla. 3d DCA· 1985-06-18 ·cited 2×
  In this interpleader action, the Third District Court of Appeal reversed summary judgment for First Palm Beach Bank in a dispute over $50,000 in cash proceeds from Aerotal's account. The court held that while the bank had a perfected security interest in specified accounts receiv
• In re Bufkin Bros., Inc. v. Appliance Buyers Credit Corp.
  757 F.2d 1573· 5th Cir.· 1985-04-22 ·cited 2×
  A typewritten corporate name on a continuation statement, coupled with the present intention to authenticate, substantially complies with the UCC's signature requirement, and a creditor is not responsible for a filing officer's improper rejection of a substantially compliant docu
• SUN Bank, N.A. v. Parkland Design & Dev. Corp.
  466 So. 2d 1089· Fla. 5th DCA· 1985-01-31 ·cited 2×
  Sun Bank appeals a judgment awarding Ocean Properties, Ltd. priority over Sun Bank's garnishment claim to funds owed to Parkland Design as real estate commissions. The court reverses, holding that the assignment of the commissions constitutes an 'account' under the Uniform Commer
• Brescher v. Assocs. Fin. Servs.
  460 So. 2d 464· Fla. 4th DCA· 1984-12-05 ·cited 2×
  A secured creditor may recover possession of collateral through replevin from a sheriff holding the property under execution when the debtor has defaulted on the secured loan. The court held that Florida's UCC § 679.503, which grants secured parties the right to take possession u