Dustin Mosely financed the purchase of two cars with a loan from Show-Me Credit Union (SMCU). When
Question:
Dustin Mosely financed the purchase of two cars with a loan from Show-Me Credit Union (SMCU). When Mosely stopped making payments on the loan, SMCU notified him that it intended to repossess the cars and dispose of them at a “private or public” sale. After the sale, the creditor filed a suit in a Missouri state court to recover the difference between the sale price and the outstanding debt. Mosely counterclaimed that SMCU had failed to give proper notice before repossessing the vehicles. Public and private sales of collateral are significantly different methods of disposition. Did SMCU’s failure to specify the type of sale, either public or private, at which the creditor would dispose of the collateral violate the UCC’s notice requirement? Explain. [Show-Me Credit Union v. Mosely, 541 S.W.3d 28 (Mo.Ct.App. 2018)] (See Default.)
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Business Law Text And Cases
ISBN: 9780357129630
15th Edition
Authors: Kenneth W. Clarkson, Roger LeRoy Miller