Uniform Commercial Code Article 9

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

• Ayares-Eisenberg Perrine Datsun, Inc. v. SUN Bank OF Miami
  455 So. 2d 525· Fla. 3d DCA· 1984-08-21 ·cited 2×
  The Florida Third District Court of Appeal reversed a summary judgment for Sun Bank in a secured creditor dispute, holding that a secured creditor cannot pursue dual remedies simultaneously against a debtor and must complete one remedy before pursuing another. The court remanded
• In re Davison v. Davison
  738 F.2d 931· 8th Cir.· 1984-07-09 ·cited 2×
  The court held that the term 'debtor' for purposes of signing a financing statement under the UCC means the owner of the collateral, and that the bankruptcy court erred by presuming ownership based on tenancy by the entirety without first determining actual ownership.
• Hutchison v. C.I.T. Corp.
  726 F.2d 300· 6th Cir.· 1984-02-08 ·cited 2×
  The court held that the defendants' perfected security interests were superior to the plaintiff's unperfected security interest, and that one defendant qualified as a buyer in the ordinary course of business, taking the property free of any prior security interest.
• Williams v. Ford Motor Credit Co.
  674 F.2d 717· 8th Cir.· 1982-03-31 ·cited 2×
  The court held that a jury could not reasonably find that the repossession of an automobile at 4:30 a.m. constituted a breach of the peace. The dissent argues that the jury's finding of a breach of the peace was reasonable.
• Hardick v. Hill
  403 So. 2d 1125· Fla. 5th DCA· 1981-09-23 ·cited 2×
  In this conversion lawsuit, the Florida Fifth District Court of Appeal affirmed judgment for the defendant boat seller Hill, holding that Hill had a superior right to repossess a Harbor cabin cruiser because his unpaid seller's interest under the UCC predated the appellants' unpe
• Walter E. Heller & Co. Se. v. Riviana Foods, Inc.
  648 F.2d 1059· 5th Cir.· 1981-06-26 ·cited 2×
  The court held that the transactions between Riviana and Amos did not constitute a 'sale or return' under Fla.Stat. § 672.2-326(3) because Amos lacked independent authority to sell Riviana's goods.
• In re Sw. Rest. Sys., Inc. v. Stockton & Hing
  607 F.2d 1243· 9th Cir.· 1979-09-05 ·cited 2×
  The court held that an attorney's retaining lien on stock is subject to prior valid offsets against the client, and that garnishment served on the issuer can perfect a lien on stock even if the certificate is voided.
• Thomas v. Sutherland
  370 So. 2d 12· Fla. 1st DCA· 1978-12-13 ·cited 2×
  The court held that the secured party's failure to provide reasonable notice of the collateral's sale, as required by the security agreement and statute, barred their action for a deficiency judgment on the promissory note.
• Applestein v. Nat'l Bank OF Tulsa
  358 So. 2d 106· Fla. 3d DCA· 1978-05-02 ·cited 2×
  The court held that the commercial reasonableness of the sale of collateral, which resulted in a deficiency judgment, presented a genuine issue of material fact precluding summary judgment.
• Consol. Film Indus. v. United States
  547 F.2d 533· 10th Cir.· 1977-01-06 ·cited 2×
  The court held that the assignment of contract rights constituted a security interest requiring perfection under the UCC, and the assignee failed to meet the burden of proving the assignment was an insignificant part of the assignor's total contract rights to qualify for an exemp
• In re ORE Cargo, Inc. v. Jacob Gottesman in Bankr. of Ore Cargo, Inc.
  544 F.2d 80· 2d Cir.· 1976-10-14 ·cited 2×
  A standard commercial security agreement drafted under Article 9 of the UCC does not convey a security interest in a tort claim, especially when the lender lacked knowledge of the claim.
• In re Callahan Motors, Inc.
  538 F.2d 76· 3d Cir.· 1976-07-08 ·cited 2×
  The court held that even if a continuation statement was filed prematurely, the filing officer's conduct in accepting the filing and later destroying the documents without notice, coupled with the equitable nature of bankruptcy proceedings, required granting the appellant's motio
• In re Kittyhawk Television Corp. v. RCA Corp.
  516 F.2d 24· 6th Cir.· 1975-05-08 ·cited 2×
  The court held that RCA's security interest remained perfected against the trustee in bankruptcy because the transfer of assets from Broadcasting to Television was a mere name change, not a sale or disposition of collateral requiring a new filing.
• United States v. Samel Ref. Corp.
  461 F.2d 941· 3d Cir.· 1972-06-02 ·cited 2×
• Philip A. Brown in Bankruptcy of the Estate of Theodore Frederick Schulz v. Universal C.I.T. Credit Corp.
  331 F.2d 246· 7th Cir.· 1964-04-15 ·cited 2×
  The court held that Michigan law applies to determine the validity of a lien on a chattel, and failure to record the contract in Michigan renders the lien invalid against creditors when the chattel is taken to Michigan with the vendor's knowledge and consent.
• HSBC Bank USA, N.A. v. Perez
  165 So. 3d 696· Fla. 4th DCA· 2015-05-06 ·cited 1×
  Two banks held nearly identical promissory notes for the same mortgage loan due to a fraudulent scheme. HSBC Bank and LaSalle Bank both sought to foreclose. The court held that the Uniform Commercial Code (Article 9), not Florida's mortgage recording statute, governs priority bet
• Rayfield Inv. Co. v. Kreps
  35 So. 3d 63· Fla. 4th DCA· 2010-05-05 ·cited 1×
  Rayfield Investment Company, a lender with a perfected security interest in a gallery's inventory, sued to foreclose after the gallery defaulted. A consignor intervened claiming a painting he placed on consignment, but the Florida appellate court reversed the trial court's judgme
• Pine River Master Fund Ltd. v. Amur Fin. Co.
  Del. Ch.· 2017-10-12
  The court held that the Credit Agreement is ambiguous regarding the calculation of Cash Interest Accrual, thus denying summary judgment on that claim. However, the court granted summary judgment for the lender on the claim that the borrower breached the agreement by making unauth
• Element Fin. Corp. v. Marcinkoski Gradall, Inc.
  215 So. 3d 1252· Fla. 4th DCA· 2017-03-29
  Element Financial Corp. appeals a trial court judgment finding it did not have a perfected security interest in Bobcat vehicles. The Fourth District Court of Appeal reverses, holding that a guarantor is not a "debtor" under Florida's UCC for purposes of the four-month relocation
• Yucaipa Am. Alliance Fund I, LP
  Del. Ch.· 2014-10-31
  The Court of Chancery partially granted Defendants' motion to dismiss and granted their motion to stay. The court held that a covenant not to sue in the Third Amendment to the Credit Agreement, as interpreted by the Bankruptcy Court and given collateral estoppel effect, bars most
• Official Comm.
  Del.· 2014-10-17
  The Delaware Uniform Commercial Code (UCC) requires only that a secured party authorize the filing of a termination statement for it to be effective. It is not necessary for the secured party to subjectively intend to terminate the specific security interest listed on the stateme
• Israel Disc. Bank OF NEW York v. First State Depository Co., LLC
  Del. Ch.· 2013-05-29
  The Delaware Court of Chancery found the depository (FSD) liable for breach of a bailment agreement and the affiliated debtor (CAMI) liable for conversion of collateral. The court determined that the depository wrongfully released collateral without the lender's (IDB) consent, an
• Cnl-Ab LLC v. E. Prop. Fund I SPE (MS REF LLC
  Del. Ch.· 2011-01-28
  The court denied the investor's motion for a temporary restraining order (TRO) or preliminary injunction, finding the claim barred by laches due to unreasonable delay and prejudice to the opposing parties. Additionally, the court found the investor failed to demonstrate a probabi
• Charlotte Dev. P'rs, LLC v. Tricom Pictures & Prods., Inc.
  33 So. 3d 690· Fla. 4th DCA· 2009-12-02
  The court held that Charlotte Development Partners, LLC waived its right to a jury trial and that its security interest in the cash bond was unperfected, making GE Capital's judgment lien superior.
• Burley v. Gelco Corp.
  976 So. 2d 97· Fla. 5th DCA· 2008-02-29
  Gelco Corporation sought a deficiency judgment against John Burley after repossessing and selling three vehicles under a commercial lease agreement. The appellate court reversed summary judgment, holding that Gelco's failure to provide adequate notice of the sale raised a presump
• Ayman Boutros, M.D. v. Oscar MIÑOSO, M.D.
  944 So. 2d 1076· Fla. 3d DCA· 2006-11-01
  Dr. Boutros and Dr. Miñoso were equal owners of a medical practice that ceased operations in 2001. Dr. Boutros paid the Wachovia loan and lease termination penalties, then sued Dr. Miñoso for equitable contribution, unjust enrichment, and equitable subrogation. The trial court er
• Hughes v. Amerada Hess Corp.
  965 F. Supp. 2d 402· M.D. Fla.· 1999-06-28
• Kirkland v. Miller
  702 So. 2d 620· Fla. 4th DCA· 1997-12-17
  The court held that the transaction, structured as an Illinois land trust, was in fact a mortgage securing indebtedness under Florida law, requiring foreclosure rather than ejectment.
• Barb's Sprinklers, Inc. v. Water BOY Lawn Sprinkler's, Inc.
  686 So. 2d 646· Fla. 4th DCA· 1996-11-27
  The court held that a secured party who repossesses collateral and fails to sell it effectively retains it in satisfaction of the debt, barring a deficiency judgment.
• Barnett Bank of S. Fla., N.A. v. Weitzner (In Re Kavolchyck)
  164 B.R. 1018· S.D. Fla.· 1994-02-25
  A security interest in a leasehold estate and rents derived therefrom is excluded from the Uniform Commercial Code and must be perfected by recording in local county offices, not by filing a UCC-1 financing statement.
• In re Newman v. W. Loop Sav. Ass'n
  993 F.2d 90· 5th Cir.· 1993-06-14
  The court held that an annuity contract is a general intangible, not an instrument, requiring a filed financing statement for perfection of a security interest.
• Octagon GAS Sys., Inc. v. Rimmer
  995 F.2d 948· 10th Cir.· 1993-05-27
  The court held that the 'interest' in dispute was not part of the bankruptcy estate because it was conveyed by a prior sales agreement and the parties' intent and course of dealing indicated it was not a security interest under Article 9 of the U.C.C.
• R.S. Martin, Jr. v. Amercable Corp.
  990 F.2d 439· 8th Cir.· 1993-04-12
  The court held that a secured creditor is entitled to payment for past-due amounts owed to a supplier, but not for new materials purchased on the credit of a third party.
• KIT CAR World, Inc. v. Skolnick
  616 So. 2d 1051· Fla. 5th DCA· 1993-04-02
  Kit Car World and related entities secured a promissory note from a debtor with a security interest in assets and after-acquired property related to replica car kit manufacturing. When the debtor defaulted, the secured creditors executed a writ of replevin seizing inventory. Seve
• In re Davis v. Davis
  989 F.2d 208· 6th Cir.· 1993-03-24
  A requirement for hazard insurance or inclusion of boilerplate language regarding rents, profits, and fixtures in a deed of trust does not constitute additional security that removes a claim from the protection of Bankruptcy Code § 1322(b)(2).
• Stoumbos v. Whitesides
  988 F.2d 949· 9th Cir.· 1993-03-09
  The court held that Kilimnik's security interest was limited to assets owned on May 1, 1982, except for after-acquired inventory securing working capital advances, and that his transfer of vehicles and withdrawal from the LAMA were improper.
• Horton Dairy, Inc. v. United States
  986 F.2d 286· 8th Cir.· 1993-02-25
  The court held that Horton Dairy, Inc. was the alter ego of its shareholders, Jack and Arlene Horton, and that the IRS had a valid, superior lien on HDI's property to satisfy the Hortons' tax liabilities. However, the court vacated the district court's order awarding a percentage
• Pentech Int'l, Inc. v. Wall St. Clearing Co.
  983 F.2d 441· 2d Cir.· 1993-01-13
  A security interest in a warrant is subject to pre-existing contractual claims to portions of that warrant, even if the security interest is perfected, if the secured party had notice of those claims. A party's admission in deposition regarding contractual obligations can satisfy
• J.V. Shields v. Equine Cap. Corp.
  607 So. 2d 468· Fla. 5th DCA· 1992-10-09
  Shields sought declaratory relief to establish his right to a stallion service certificate held by Equine Capital Corporation (ECC), which was necessary to register a thoroughbred foal. The trial court granted summary judgment for ECC based on its claimed security interest in the
• Mirax Chem. Prods. Corp. v. First Interstate Commercial Corp.
  950 F.2d 566· 8th Cir.· 1991-12-06
  A loan agreement provision allowing termination at will, even with specified events of default, is not ambiguous and does not preclude the lender from exercising that right. Actions specifically authorized by the agreement cannot constitute a breach of the duty of good faith.
• In re Bluegrass Ford-Mercury, Inc. v. Farmers Nat'l Bank OF Cynthiana
  942 F.2d 381· 6th Cir.· 1991-08-20
  The court affirmed the lower courts' decisions, holding that the 1977 financing statement did not perfect a security interest in the successor entity's after-acquired inventory, and the SBA loan's security agreement did not extend to the floor plan notes.
• Venn v. Roberts Supply
  124 B.R. 858· N.D. Fla.· 1991-02-07
  A financing statement filed solely under a trade name, without the individual debtors' names, is insufficient to perfect a security interest under Florida law.
• Agra v. Benson
  920 F.2d 1173· 4th Cir.· 1990-12-07
  A customer who breaches their contract with a broker by failing to meet margin calls cannot recover damages for the broker's commercially unreasonable liquidation if the customer fails to prove that the liquidation caused a greater loss than would have otherwise occurred.
• Leasing Serv. Corp. v. Hobbs Equip. Co.
  894 F.2d 1287· 11th Cir.· 1990-02-20
  A financing statement's description of collateral is sufficient if it provides notice to third parties, and a party who pays proceeds based on a mistaken belief of lien priority is entitled to restitution.
• MNC Commercial Corp. v. Joseph T. Ryerson & SON
  882 F.2d 615· 2d Cir.· 1989-07-11
  A subsequently arising setoff cannot take priority over a perfected security interest in receivables under New York's Uniform Commercial Code Article 9.
• In re Hosier
  875 F.2d 128· 7th Cir.· 1989-05-17
  A parent's judgment for past-due child support is assignable under Illinois common law, even if the children are the ultimate beneficiaries.
• In re Boogie Enters., Inc. v. United States
  866 F.2d 1172· 9th Cir.· 1989-02-01
  A financing statement describing collateral as 'personal property' is insufficient to perfect a security interest under Cal.Comm.Code § 9402(1).
• Sec. Title Guar. OF Baltimore v. Breezeview Land Developers, Inc.
  517 So. 2d 108· Fla. 3d DCA· 1987-12-29
  Security Title Guarantee challenged a repossessed automobile sale by a purchase-money mortgagee (Caribank) to Breezeview, arguing it failed to comply with UCC Article 9 notice requirements and constituted a fraudulent redemption rather than a valid sale. The court affirmed the tr
• Freightliner Mkt. Dev. Corp. v. Silver Wheel Freightlines, Inc.
  823 F.2d 362· 9th Cir.· 1987-07-29
  A security interest in a vehicle covered by a certificate of title is perfected exclusively by notation on the certificate, and equitable exceptions are not permitted. A security interest in general intangibles, including operating authorities, is perfected by filing a financing
• Carlson v. Tandy Computer Leasing
  803 F.2d 391· 8th Cir.· 1986-10-10
  The court held that the agreement was a lease, not a security interest, and that Missouri law governed the substantive issues due to the rights of third-party creditors.