Florida Statute 679.627 | Lawyer Caselaw & Research

The 2024 Florida Statutes

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.

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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 Citing Statute 679.627

Total Results: 4

Ford Motor Credit Company LLC v. Thomas Arwine

Court: District Court of Appeal of Florida | Date Filed: 2019-08-14

Snippet: dealers in the type of property being disposed. § 679.627(2), Fla. Stat. However, a secured party need not

Southern Developers & Earthmoving, Inc. v. Caterpillar Financial Services Corp.

Court: District Court of Appeal of Florida | Date Filed: 2011-02-23

Citation: 56 So. 3d 56, 2011 Fla. App. LEXIS 2216, 2011 WL 637332

Snippet: property that was the subject of the disposition.” § 679.627(2)(e). *61Here, CAT’s pleadings and its affidavit

Tropical Jewelers Inc. v. Bank of America, N.A. ex rel. NationsBank, N.A.

Court: District Court of Appeal of Florida | Date Filed: 2009-09-23

Citation: 19 So. 3d 424, 2009 Fla. App. LEXIS 14087, 2009 WL 3013497

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

Burley v. Gelco Corp.

Court: District Court of Appeal of Florida | Date Filed: 2008-02-29

Citation: 976 So. 2d 97, 2008 WL 534816

Snippet: reasonable manner in accordance with sections 679.627(1) and (2), Florida Statutes. Once a debtor shows