From Casetext: Smarter Legal Research

Mack Financial Corporation v. Knoud

Appellate Division of the Supreme Court of New York, Second Department
Dec 5, 1983
98 A.D.2d 713 (N.Y. App. Div. 1983)

Opinion

December 5, 1983


In an action for a deficiency judgment, defendant appeals from an order of the Supreme Court, Suffolk County (Rohl, J.), dated December 20, 1982, which granted plaintiff's motion for summary judgment in lieu of a complaint (CPLR 3213) and set the matter down for trial on the issue of damages. Order reversed, on the law, with costs, and motion denied. A secured party seeking a deficiency judgment from the debtor after sale of the collateral bears the burden of showing that the sale was made in a "commercially reasonable" manner (see Uniform Commercial Code, § 9-504; Central Budget Corp. v. Garrett, 48 A.D.2d 825). Here, the moving papers fail to set forth any of the facts and circumstances surrounding the sale, and have therefore failed to satisfy a prerequisite to obtaining a deficiency judgment (see Central Budget Corp. v. Garrett, supra). Hence, summary judgment was improvidently granted. Lazer, J.P., Mangano, Bracken and Niehoff, JJ., concur.


Summaries of

Mack Financial Corporation v. Knoud

Appellate Division of the Supreme Court of New York, Second Department
Dec 5, 1983
98 A.D.2d 713 (N.Y. App. Div. 1983)
Case details for

Mack Financial Corporation v. Knoud

Case Details

Full title:MACK FINANCIAL CORPORATION, Respondent, v. JAMES KNOUD, Appellant

Court:Appellate Division of the Supreme Court of New York, Second Department

Date published: Dec 5, 1983

Citations

98 A.D.2d 713 (N.Y. App. Div. 1983)

Citing Cases

Federal Deposit Insurance Corp. v. Forte

It has been held that whether a particular procedure concerning the sale of collateral which secures a loan…

Dime Sav. Bank of N.Y., F.S.B. v. Harpal

Although plaintiff moved for summary judgment to recovery a deficiency judgment against Kaur, plaintiff's…