General Electric Capital Corp. v. Nichols

GE Capital (plaintiff) financed Nichols Equipment's (defendant) purchase of six concrete-pump trucks worth about $3.3 million, secured by the trucks with Nichols also personally guaranteeing payment; after Nichols defaulted and surrendered the trucks, GE directed a third party to market and sell them, ultimately netting about $1.2 million and seeking roughly $2.5 million in remaining deficiency. Nichols challenged the sale as not commercially reasonable, offering expert testimony from an industry veteran who opined GE had undervalued the trucks and marketed them insufficiently; GE moved both to exclude that testimony and for summary judgment.