Lallana bought a car on credit from a dealer who assigned the contract and the security agreement

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Lallana bought a car on credit from a dealer who assigned the contract and the security agreement to Bank of America. When Lallana failed to make several payments, the bank repossessed the car.

The bank notified Lallana that if she did not redeem the car or reinstate the contract within 15 days, it would sell the car. The bank then sold the car at a public auction for $5,000 and sued Lallana for $11,249, the balance due on her loan. The Kelly Blue Book’s estimated r e tail value of the car at the time of the auction was $14,820. Did the bank give Lallana proper notice of the sale? Why or why not? Bank of America v. Lallana , 960 P.2d 1133 (CA).

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Business Law With UCC Applications

ISBN: 9780073524955

13th Edition

Authors: Gordon Brown, Paul Sukys

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