Granite Equipment Leasing Corporation v. Marine Development Corporation

Deen, Presiding Judge.

1. The trial judge found as a matter of fact that the appellee defaulted on its contract with a balance due of $6,383.19, that the appellant repossessed the equipment and sold it at a private sale for $1,100 after advertising, making telephone inquiries to prospective buyers and receiving a bid of $150 (which was eventually withdrawn), and that the subsequent buyer of the equipment shortly resold it for $1,900.

A secured party has the right to dispose of repossessed collateral at a private sale so long as every aspect of the disposition including the method, manner, time,…