The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.627

679.627 Determination of whether conduct was commercially reasonable.—

(1) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.

(2) A disposition of collateral is made in a commercially reasonable manner if the disposition is made:

(a) In the usual manner on any recognized market;

(b) At the price current in any recognized market at the time of the disposition; or

(c) Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.

(3) A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:

(a) In a judicial proceeding;

(b) By a bona fide creditors’ committee;

(d) By an assignee for the benefit of creditors.

(4) Approval under subsection (3) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.

History.—s. 7, ch. 2001-198.

F.S. 679.627 on Google Scholar

F.S. 679.627 on Casetext

Amendments to 679.627

Arrestable Offenses / Crimes under Fla. Stat. 679.627

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.627.

Annotations, Discussions, Cases:

Cases from cite.case.law:

COMERICA BANK, v. H. MANN, III,, 13 F. Supp. 3d 1262 (N.D. Ga. 2013)

. . . . § 679.627(2)(c); see also Gepetto’s Tale O’ the Whale of Fort Lauderdale, Inc., 498 So.2d at 922; S . . .

SOUTHERN DEVELOPERS EARTHMOVING, INC. a R. a k a A. v. CATERPILLAR FINANCIAL SERVICES CORPORATION,, 56 So. 3d 56 (Fla. Dist. Ct. App. 2011)

. . . .” § 679.627(2)(e). . . .

TROPICAL JEWELERS INC. J. v. BANK OF AMERICA, N. A. N. A. a N. A., 19 So. 3d 424 (Fla. Dist. Ct. App. 2009)

. . . This statute has been renumbered and is now section 679.627, Florida Statutes (2009). . . .

TEXTRON FINANCIAL CORPORATION, v. LENTINE MARINE INC. F. A., 630 F. Supp. 2d 1352 (S.D. Fla. 2009)

. . . Commercial reasonableness is defined in § 679.627(2), Florida Statutes: A disposition of collateral is . . . In support of its argument, Plaintiff cites § 679.627(1), Florida Statutes. . . . . § 679.627(1), Florida Statutes. . . .

BURLEY, v. GELCO CORPORATION, d b a G. E., 976 So. 2d 97 (Fla. Dist. Ct. App. 2008)

. . . addressed whether the sale was conducted in a commercially reasonable manner in accordance with sections 679.627 . . . commercial practices among dealers in the type of property that was the subject of the disposition.” § 679.627 . . . As previously indicated, sections 679.627(1) and (2), Florida Statutes, control the determination of . . . Specifically, the concept of "recognized markets,” as used in sections 679.627(2)(a) and (2)(b), is “ . . .