recognized market

A market where the items bought and sold are numerous and similar, where competitive bidding and bartering are not prevalent, and where prices paid in sales of comparable items are publicly quoted.

• Examples of recognized markets include stock and commodities exchanges. Under the UCC, a secured creditor may, upon the debtor’s default, sell the collateral in a recognized market without notifying the debtor. Such a sale is presumed to be commercially reasonable.

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词条贡献者

法律翻译David，毕业于美国顶尖的高级翻译学院，专注翻译各类与电子证据开示与文件保全有关的法律文件。