Toledo Trust Co. v. Aldrich

1 Citing case

  1. Kruse v. Voyager Insurance Companies

    72 Ohio St. 3d 192 (Ohio 1995)   Cited 7 times
    In Kruse, the Ohio Supreme Court held that even if a sale itself is "commercially reasonable," a failure to provide adequate notice of the sale of the collateral to the debtor as required in former R.C. 1309.47 still implicates the statutory damages provided in R.C. 1309.50(A).

    Initially, we note that the trial court's decision that Fifth Third's failure to provide adequate notice of the sale served as an absolute bar to Fifth Third's right to collect a deficiency judgment was in accord with the prevailing view taken by courts of appeals in Ohio at the time the events underlying this litigation occurred. See, e.g., Horizon Savings v. Wootton (1991), 73 Ohio App.3d 501, 503, 597 N.E.2d 1150, 1151; Toledo Trust Co. v. Aldrich (1989), 65 Ohio App.3d 189, 193, 583 N.E.2d 371, 374; Liberty Natl. Bank of Fremont v. Greiner (1978), 62 Ohio App.2d 125, 132-133, 16 O.O.3d 291, 296-297, 405 N.E.2d 317, 323-324. The "absolute bar" rule applied in the above cases is one of several approaches the courts of the various states have applied when determining whether a debtor who receives inadequate notice of the disposition of repossessed collateral is liable for a deficiency judgment.