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: Fla. Dist. Ct. App. | Date Filed: 2019-08-14T00:53:00-07:00

Snippet: dealers in the type of property being disposed. § 679.627(2), Fla. Stat. However, a secured party need not…Appellee never placed Ford’s compliance with section 679.627(2), Florida Statutes, in issue. In fact, Appellee

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

Court: Fla. Dist. Ct. App. | Date Filed: 2011-02-23T00:00:00-08:00

Citation: 56 So. 3d 56

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: Fla. Dist. Ct. App. | Date Filed: 2009-09-23T00:00:00-07:00

Citation: 19 So. 3d 424

Snippet: statute has been renumbered and is now section 679.627, Florida Statutes (2009). No. 3D08-164

Burley v. Gelco Corp.

Court: Fla. Dist. Ct. App. | Date Filed: 2008-02-28T23:53:00-08:00

Citation: 976 So. 2d 97

Snippet: reasonable manner in accordance with sections 679.627(1) and (2), Florida Statutes. Once a debtor shows…that was the subject of the disposition." § 679.627(2)(c), Fla. Stat. (2005).[3] Accordingly, this … 2000). [3] As previously indicated, sections 679.627(1) and (2), Florida Statutes, control the determination…;recognized markets," as used in sections 679.627(2)(a) and (2)(b), is "quite limited"