CSI Services, Ltd. v. Hawkins Concrete Const. Co.
| Decision Date | 10 December 1987 |
| Docket Number | BR-293 |
| Citation | 516 So.2d 337,12 Fla. L. Weekly 2803 |
| Parties | 12 Fla. L. Weekly 2803, 5 UCC Rep.Serv.2d 844 CSI SERVICES, LTD., Appellant, v. HAWKINS CONCRETE CONSTRUCTION COMPANY, a Florida Corporation, Hawkins Bridge Co., Inc., a Florida corporation, and C. D. Hawkins, Appellees. |
| Court | Florida District Court of Appeals |
Stephen F. Bolton, of Moore, Hill & Westmoreland, Pensacola, for appellant.
Paul A. Rasmussen, of Eggen & Rasmussen, Pensacola, for appellees.
Appellant appeals an amended final judgment denying it's request for a deficiency judgment against appellees, C. D. Hawkins and Hawkins Bridge Co. We reverse and remand.
Without making determinations as to the other issues involved below, such as whether the collateral was sold by appellant for fair market value and whether a novation had occurred, the trial judge denied the deficiency judgment solely on the basis of the fact that appellant undisputedly failed to give Hawkins and Hawkins Bridge Co. notice of the sale of the collateral.
A secured party is required under section 679.504(3), Florida Statutes, to give notice of a sale of repossessed collateral and failure to give such notice generally renders a sale commercially unreasonable. See Landmark First National Bank of Fort Lauderdale v. Gepetto's, 498 So.2d 920 (Fla.1986). However, that failure does not necessarily preclude entry of a deficiency judgment following the sale. As established in Weiner v. American Petrofina Marketing, Inc., 482 So.2d 1362 (Fla.1986) and followed in Gepetto's:
When it has been determined that a secured party has disposed of collateral in a commercially unreasonable manner, there will arise a presumption that the fair market value of the collateral at the time of repossession was equal to the amount of the total debt that it secured. The burden to prove that the fair market value of the collateral was less than the debt will be upon the secured party. If the secured party meets this burden, he will be allowed to recover a deficiency judgment in an amount equal to the total debt minus the fair market value of the collateral as ultimately determined.
In Gepetto's, decided immediately prior to the date of the amended final judgment on appeal, the court specifically found that a sale conducted without prior notice cannot be considered commercially reasonable and it therefore falls within the "rebuttable presumption" rule of Weiner. In that case, the bank argued that the evidence presented...
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Morgan v. Kelly, 93-2336
...by the court. Norwest Bank Owatonna, N.A. v. Millard, 522 So.2d 546 (Fla. 4th DCA 1988) (citing CSI Servs., Ltd. v. Hawkins Concrete Constr. Co., 516 So.2d 337, 338 (Fla. 1st DCA 1987)). See R.K. Cooper Constr. Co. v. Fulton, 216 So.2d 11 (Fla.1968); Liberty Business Credit Corp. v. Schaffe......
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...partially guaranteed. Norwest Bank Owatonna, N.A. v. Millard, 522 So.2d 546 (Fla. 4th DCA 1988); CSI Services, Ltd. v. Hawkins Concrete Construction Co., 516 So.2d 337 (Fla. 1st DCA 1987). While the foregoing is a correct statement of the law, we disagree with appellants that Great American......
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Williams v. Kloeppel, 88-585
...(emphasis supplied.) 482 So.2d at 1365. Accord Landmark First National Bank, 498 So.2d at 922; CSI Services, Ltd. v. Hawkins Concrete Construction Co., 516 So.2d 337 (Fla. 1st DCA 1987). The estoppel issue in this case arises in the context of a seeming inconsistency between the asserted va......
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Ford Motor Credit Co. v. Jones
...other defenses are asserted and proven, the secured creditor is entitled to a deficiency judgment. See CSI Services, Ltd. v. Hawkins Concrete Const. Co., 516 So.2d 337 (Fla. 1st DCA 1987); see generally, Adler v. Key Financial Services, Inc., 553 So.2d 284 (Fla. 3rd DCA Accordingly, the tri......
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Chapter 19-3 Calculation of Deficiency Amounts
...Norwest Bank Owatonna, N.A. v. Millard, 522 So. 2d 546 (Fla. 4th DCA 1988) (citing CSI Servs., Ltd. v. Hawkins Concrete Constr. Co., 516 So. 2d 337, 338 (Fla. 1st DCA 1987)). See R.K. Cooper Constr. Co. v. Fulton, 216 So. 2d 11 (Fla. 1968); Liberty Bus. Credit Corp. v. Schaffer/Dunadry, 589......
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Chapter 20-3 Calculation of Deficiency Amounts
...Norwest Bank Owatonna, N.A. v. Millard, 522 So. 2d 546 (Fla. 4th DCA 1988) (citing CSI Servs., Ltd. v. Hawkins Concrete Constr. Co., 516 So. 2d 337, 338 (Fla. 1st DCA 1987)). See R.K. Cooper Constr. Co. v. Fulton, 216 So. 2d 11 (Fla. 1968); Liberty Bus. Credit Corp. v. Schaffer/Dunadry, 589......