CopyCited 2 times | Published | Florida 1st District Court of Appeal | 11 U.C.C. Rep. Serv. (West) 467
...rm Commercial Code. [5] To the foregoing arguments, appellee responds that Section 679.207 [6] of *193 the Uniform Commercial Code clearly provides that a secured party may use collateral for the purpose of preserving same and that the provisions of Section 818.04, Florida Statutes, F.S.A., cited by appellant only applies where the pledgee converts the collateral to his own use....
...Bryant in addition urges that under the facts here considered, it is undisputed that the Bank held a number of powers of attorney signed by him authorizing it to dispose of the collateral held by it when necessary, and such instruments exempted the Bank from liability under Section 818.04....
...For the above reasons, I dissent. NOTES [1] By stipulation of the parties, the subject warrants had a market value of $15,250.00. [2] Florida Statutes, Chapters 671-680, F.S.A. [3] Grace v. Sterling, Grace and Company, 30 A.D.2d 61, 289 N.Y.S.2d 632 (1968). [4] Section 818.04, Florida Statutes, F.S.A., which prohibits the sale of collateral prior to debt being due without pledgor's consent....
