Republic Acts1 min read
Section 50Sec./Art. 50
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Commercial Reasonableness Required.
(a) In disposing of collateral, the secured creditor shall act in a commercially reasonable manner.
(b) A disposition is commercially reasonable if the secerned creditor disposes of the collateral in conformity with commercial practices among dealers in that type of property.
(c) A disposition is not commercially unreasonable merely because a better price could have been obtained by disposition at a different time or by a different method from the time and method selected by the secured creditor.
(d) If a method of disposition of collateral has been approved in any legal proceeding, it is conclusively commercially reasonable.
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