When is notice NOT required to be sent in a foreclosure by sale?

Study for the Secured Transactions Bar Exam. Master secured transactions concepts with flashcards and multiple-choice questions, each with hints and explanations. Get exam-ready!

Notice is not required to be sent in a foreclosure by sale for perishable goods due to their nature. Perishable goods, by definition, have a limited shelf life and can quickly lose value. Therefore, the Uniform Commercial Code (UCC) recognizes the urgency of selling these goods to maximize their value and minimize losses, allowing for an expedited process without the requirement for notice.

In situations involving consumer goods, notice typically must be given to ensure that debtors are informed of impending sales. Similarly, consent from the debtor does not negate the need for notice in many cases unless specified by agreement or specific statutory provision. The creditor's bidding status also does not affect the notice requirement in most instances; notice is often still necessary to keep all parties informed of their rights and obligations. Thus, the treatment of perishable goods underlines their distinctive characteristics and the legal framework that allows for swift actions in their foreclosure without providing prior notice.

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