Opinion

North Carolina National Bank v. Burnette

  • 38 N.C. App. 120
  • 247 S.E.2d 648
  • 25 U.C.C. Rep. Serv. (West) 374
  • 1978 N.C. App. LEXIS 2116
Court
Court of Appeals of North Carolina
Filed
Oct 3, 1978
Status
Published
Author
Brock
On the bench
Martin, Mitchell, Brock
Cited by
1 cases
Authority
More cited than 6.4%

Reversed on other grounds by North Carolina National Bank v. Burnette, 297 N.C. 524 (1979)

The opinion

Chief Judge BROCK

concurring in the result.

I concur in the result reached by the majority opinion in this case; however, I disapprove of the language of the opinion insofar as it intimates that a mere allegation by the debtor that the sale was not conducted in a commercially reasonable manner or an allegation by the debtor of an inadequate and unreasonably low price would justify submission of such issue to the jury. The majority opinion does not hold that such allegations require submission to the jury but the intimation appears strong. This Court recently held in Trust Co. v. Murphy, 36 N.C. App. 760 (appeal dismissed, cert. denied, 295 N.C. 557 , 248 S.E. 2d 734 [1978]) that *130 the allegations of a debtor of any inadequate and unreasonable price obtained for the collateral at public sale does not justify a hearing upon the question of commercial reasonableness if the creditor has shown that there was in fact a public sale following substantial compliance with the procedures provided in Part 6 of Article 9 of the Uniform Commercial Code (G.S. 25-9-601 through 25-9-607). Trust Co. v. Murphy further held that the provision of G.S. 25-9-601 which provides “any disposition of the collateral by public sale wherein the secured party has substantially complied with the procedures provided in this part [Part 6] shall conclusively be deemed to be commercially reasonable in all aspects” does not offend the due process clause of either the Constitution of the United States or the Constitution of North Carolina.

The purpose of this concurrence is only to point out that in my opinion and in the opinion of this Court in Trust Co. v. Murphy when the creditor shows substantial compliance with Part 6 the question of commercial reasonableness does not arise.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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