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Disposition of Collateral.With a loan of 1 . 4 mil - lion euros from Barclays Bank, PLC , omas Poynter bought a yacht. e
Disposition of Collateral.With a loan of million euros from Barclays Bank, PLC omas Poynter bought a yacht. e loan agreement gave Barclays multiple standalone options on default. One option required the lender to give ten days advance notice of a sale. A different option permitted the lender to avoid this requirement. When Poynter did not repay the loan, Barclays repossessed the yacht and notied Poynter that it would be soldbut did not specify a date, time, or place. Two months later, the yacht was sold. e sale price was less than Poynter owed, and Barclays led a suit in a federal district court for the deciency. Is Barclays entitled to collect even though it did not give Poynter ten days advance notice of the sale? Explain. Barclays Bank PLC v Poynter, Fd st Cir. See Default."
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