Ask Reggi Your Question Now
Can you summarize MNST 336.9-614?
UNIFORM COMMERCIAL CODE > CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: CONSUMER GOODS TRANSACTION.
Short Summary
This legal document governs the contents and form of notification before the disposition of collateral in consumer goods transactions. It applies to parties involved in such transactions. The document specifies the information that must be included in the notification, such as details about the collateral, liability for deficiency, contact information for redemption, and additional information about the disposition and the secured obligation. The document provides a suggested form of notification that includes the necessary information. It also allows for variations in the phrasing of the notification. The document emphasizes that the notification should not include misleading information. Overall, the document aims to ensure transparency and communication between the parties involved in consumer goods transactions.
Whom does it apply to?
Parties involved in consumer goods transactions
What does it govern?
Notification before disposition of collateral in consumer goods transactions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota