Goodman
Citicapital Technology Finance, Inc. v. Goodman
Opinion
Lead Opinion
*602 MEMORANDUM **
Grant and Teri Goodman (collectively the “Goodmans”) appeal the district court’s grant of a deficiency judgment in favor of CitiCapital Technology Finance, Inc. and General Electric Capital Corporation following the sale of repossessed equipment pursuant to the default provisions of the Goodmans’ leases. The Goodmans argue that: (1) the sale of the equipment was not done in a commercially reasonable manner; (2) the liquidated damages clauses were unenforceable; (3) CitiCapital and General Electric had anticipatorily repudiated the leases; and (4) the district court should have allowed Grant Goodman to testify as to certain matters.
Contrary to the Goodmans’ assertion, there is ample evidence in the record demonstrating that the sale was done in a commercially reasonable manner as it was conducted in the usual manner in the recognized market of Ontario, California through public auctions and private sales following extensive marketing efforts. Ariz.Rev.Stat. § 47-9627(B). Also, the liquidated damages provisions of the leases were enforceable as reasonable forecasts of anticipated damages, Fraser v. United States, 261 F.2d 282, 286-87 (9th Cir.1958), and such…