Ford Motor Credit Co. v. Webb-Elkhorn Coal Corp., 775 S.W.2d 945 (1989)

There does not appear to be a dispute as to the commercial reasonableness of the sale of the truck itself; rather, the appellee maintained that the deficiency could not be recovered because the notice of sale required by KRS 355.9-504(3) had not been given. The appellant insisted that this statute had no relevance to the present situation because the lease agreement between the parties was not a secured transaction falling under the purview of Chapter 9 of the Uniform Commercial Code (KRS 355.9), because it was a true lease rather than a sale with a retained security interest disguised as a lease. The trial court, interpreting this Court’s opinion in Hertz Commercial Leasing Corp. v. Joseph, Ky.App., 641 S.W.2d 753 (1982), concluded that the holding in that case was that the Uniform Commercial Code applies to all leases of personal property.