§ 6A-9-610 Disposition of collateral afterdefault. – (a) Disposition after default. After default, a secured party may sell,lease, license, or otherwise dispose of any or all of the collateral in itspresent condition or following any commercially reasonable preparation orprocessing.
(b) Commercially reasonable disposition. Every aspectof a disposition of collateral, including the method, manner, time, place, andother terms, must be commercially reasonable. If commercially reasonable, asecured party may dispose of collateral by public or private proceedings, byone or more contracts, as a unit or in parcels, and at any time and place andon any terms.
(c) Purchase by secured party. A secured party maypurchase collateral:
(1) At a public disposition; or
(2) At a private disposition only if the collateral is of akind that is customarily sold on a recognized market or the subject of widelydistributed standard price quotations.
(d) Warranties on disposition. A contract for sale,lease, license, or other disposition includes the warranties relating to title,possession, quiet enjoyment, and the like which by operation of law accompany avoluntary disposition of property of the kind subject to the contract.
(e) Disclaimer of warranties. A secured party maydisclaim or modify warranties under subsection (d):
(1) In a manner that would be effective to disclaim or modifythe warranties in a voluntary disposition of property of the kind subject tothe contract of disposition; or
(2) By communicating to the purchaser a record evidencing thecontract for disposition and including an express disclaimer or modification ofthe warranties.
(f) Record sufficient to disclaim warranties. A recordis sufficient to disclaim warranties under subsection (e) if it indicates"There is no warranty relating to title, possession, quiet enjoyment, or thelike in this disposition" or uses words of similar import.
§ 6A-9-610 Disposition of collateral afterdefault. – (a) Disposition after default. After default, a secured party may sell,lease, license, or otherwise dispose of any or all of the collateral in itspresent condition or following any commercially reasonable preparation orprocessing.
(b) Commercially reasonable disposition. Every aspectof a disposition of collateral, including the method, manner, time, place, andother terms, must be commercially reasonable. If commercially reasonable, asecured party may dispose of collateral by public or private proceedings, byone or more contracts, as a unit or in parcels, and at any time and place andon any terms.
(c) Purchase by secured party. A secured party maypurchase collateral:
(1) At a public disposition; or
(2) At a private disposition only if the collateral is of akind that is customarily sold on a recognized market or the subject of widelydistributed standard price quotations.
(d) Warranties on disposition. A contract for sale,lease, license, or other disposition includes the warranties relating to title,possession, quiet enjoyment, and the like which by operation of law accompany avoluntary disposition of property of the kind subject to the contract.
(e) Disclaimer of warranties. A secured party maydisclaim or modify warranties under subsection (d):
(1) In a manner that would be effective to disclaim or modifythe warranties in a voluntary disposition of property of the kind subject tothe contract of disposition; or
(2) By communicating to the purchaser a record evidencing thecontract for disposition and including an express disclaimer or modification ofthe warranties.
(f) Record sufficient to disclaim warranties. A recordis sufficient to disclaim warranties under subsection (e) if it indicates"There is no warranty relating to title, possession, quiet enjoyment, or thelike in this disposition" or uses words of similar import.
§ 6A-9-610 Disposition of collateral afterdefault. – (a) Disposition after default. After default, a secured party may sell,lease, license, or otherwise dispose of any or all of the collateral in itspresent condition or following any commercially reasonable preparation orprocessing.
(b) Commercially reasonable disposition. Every aspectof a disposition of collateral, including the method, manner, time, place, andother terms, must be commercially reasonable. If commercially reasonable, asecured party may dispose of collateral by public or private proceedings, byone or more contracts, as a unit or in parcels, and at any time and place andon any terms.
(c) Purchase by secured party. A secured party maypurchase collateral:
(1) At a public disposition; or
(2) At a private disposition only if the collateral is of akind that is customarily sold on a recognized market or the subject of widelydistributed standard price quotations.
(d) Warranties on disposition. A contract for sale,lease, license, or other disposition includes the warranties relating to title,possession, quiet enjoyment, and the like which by operation of law accompany avoluntary disposition of property of the kind subject to the contract.
(e) Disclaimer of warranties. A secured party maydisclaim or modify warranties under subsection (d):
(1) In a manner that would be effective to disclaim or modifythe warranties in a voluntary disposition of property of the kind subject tothe contract of disposition; or
(2) By communicating to the purchaser a record evidencing thecontract for disposition and including an express disclaimer or modification ofthe warranties.
(f) Record sufficient to disclaim warranties. A recordis sufficient to disclaim warranties under subsection (e) if it indicates"There is no warranty relating to title, possession, quiet enjoyment, or thelike in this disposition" or uses words of similar import.
