Becknell v. First National Bank

In this diversity case the appellants assert that the appellees’ sales of collateral were not commercially reasonable as required by Ark.Stat.Ann. § 85-9-504(3) (Supp.1983). The District Court1 disagreed, stating:

[T]he Court specifically finds that the sales were held in a commercially reasonable manner and that fair market value was obtained for the partnership units, when all of the factors present at the time are taken into consideration. The Court further finds that even if it could be said that the sales were not commercially reasonable, Mr. Becknell, after default, either waived the…