C.I.T. Corp. v. Anwright Corp.

Opinion

COLE, J *

When a creditor fails to give accurate notice of the place of sale of repossessed collateral as required by California Uniform Commercial Code section 9504, subdivision (3), 1 may the creditor resort to the doctrine of substantial compliance so as to preserve the right to a deficiency judgment? When a guarantor waives the right to notice of the sale, prior to the default of the debtor, is the waiver effective? We answer these questions, “no” and affirm the summary judgment from which C.I.T. Corporation (C.I.T.) appeals.

Appellant C.I.T. lent money to respondents Anwright…