First City Bank-Farmers Branch, Tex. v. Guex

KILGARLIN, Justice.

Three issues are presented in this Uniform Commercial Code case involving the rights of a debtor in default when personal property has been given as collateral to secure the loan. First, what constitutes “disposition” of the personal property by the secured party? Second, if the noteholder has disposed of the collateral in violation of UCC provisions, can the debtor recover damages for his actual losses in addition to monetary penalties provided for by statute? Third, are attorney’s fees recoverable under the theory that they are part of the “loss” that the debtor has…