Stirling

Introduction

This is an action upon a guaranty. The guarantor moved for summary judgment on the basis that the secured creditor’s failure to give him postdefault notice of the sale of the collateral barred its claim for a deficiency judgment. Based upon statutory and decisional law, the trial court found that the guarantor’s predefault waiver of the requirement of notice was void as a matter of law. In addition, the trial court rejected the creditor’s attempt to create triable issues of fact on other points. The trial court therefore granted summary judgment to the guarantor. This appeal by the creditor follows. We affirm.

Factual and Procedural Background

On July 16, 1996, West Coast Microbreweries, Inc. (West Coast) executed a $300,000 promissory note in favor of Cerritos Valley Bank (Bank). At the same time, West Coast executed a business loan agreement, a commercial security agreement, and a UCC-1 financing statement. The commercial security agreement is a form document. Its preprinted portion recites: “The *1112 word ‘Collateral’ means the following described property of Grantor, whether now owned or hereafter acquired, whether now existing or hereafter arising,…