Don Jenkins & Son Ford-Mercury, Inc. v. Catlette

ARNOLD, Judge.

Defendants argue that the resale of the repossessed car in this case was not “commercially reasonable” as that term is defined in G.S. 25-9-504(3), and that the selling price should be $6,995, which would reduce the deficiency judgment against them.

G.S. 25-9-504(2) allows plaintiff, a secured party, to recover a deficiency from defendant debtors, when property subject to a security interest is repossessed and sold for less than the amount of the debt. But G.S. 25-9-504(3) requires that “every aspect of the disposition including the method, manner, time, place and terms must be…