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FRANKLIN-LAMOILLE BANK v. WETHERBY

No. 85-499.

520 A.2d 991 (1986)

FRANKLIN-LAMOILLE BANK v. Carmi and Doris M. WETHERBY.

Supreme Court of Vermont.

December 2, 1986.

Under the default provisions of article nine of the Vermont Commercial Code, 9A V.S.A. §§ 9-501 to 9-507, a secured party is under no obligation to proceed against the collateral or release its security interest therein before electing to reduce to judgment its claim on the underlying debt. Farmers Production Credit Association v. Arena, 145 Vt. 20, 24, 481 A.2d 1064, 1066 (1984). Moreover, the secured party (plaintiff) in...

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