Associates Commercial Corp. v. Hammond

Shaw, Judge:

Respondent Associates Commercial Corporation brought this action on a promissory note executed by appellant Robert A. Hammond’s bankrupt company and guaranteed by Hammond. Answering the complaint Hammond alleged Associates’ sale of the company’s repossessed collateral was *278not commercially reasonable. The trial court granted Associates’ motion for directed verdict and awarded attorney’s fees. We affirm.

Associates is a finance institution. Hammond was the president of a construction company. In May of 1981 Associates financed the company’s purchase of certain earth-moving equipment;…