General Electric Capital Corp. v. Stelmach Construction Co.

GE Capital (plaintiff) loaned Stelmach Construction (defendant) $400,000 secured by collateral that Stelmach voluntarily surrendered after default; GE had the collateral professionally cleaned and appraised at roughly $258,200, then advertised it nationally through trade publications, websites, and direct mailings without specifying whether it would sell as a single lot or individually, ultimately receiving six lot bids ranging from $225,000 to $311,000 and accepting the highest. Stelmach's own expert valued the collateral at $457,400, and Stelmach challenged the sale's commercial reasonableness when GE sued for the remaining deficiency.