Section 48 Compliance With Missouri Uniform Commercial Code Provisions

• Library: Motor Vehicle 2011

After repossession and before the sale of the collateral, notice must be given to the debtor of either the time and place
of a public sale or the time after which any private sale is to take place. Section 400.9-611, RSMo Supp. 2010. For a car sale transaction, the substantive contents of the notice can be found at § 400.9-614, RSMo Supp. 2010. Most dispositions of collateral will be by private sale by either a private solicitation of bids from dealers or by a private dealer auction. The failure to give proper notice of the sale is a complete bar to the collection of any deficiency balance. See:

· Gateway Aviation, Inc. v. Cessna Aircraft Co., 577 S.W.2d 860 (Mo. App. E.D. 1978)

· Chem. Sales Co. v. Diamond Chem. Co., 766 F.2d...