Part 2Security over Moveable Property
Chapter 1Pledge
Liability for loss due to enforcement
I179Liability for loss suffered by virtue of enforcement
1
A person (“P”) is entitled to be compensated by a secured creditor for loss suffered in consequence of the secured creditor’s failure to comply with any obligation imposed on the secured creditor by any provision of sections 64 to 78.
2
But the secured creditor has no liability under subsection (1)—
a
in so far as P’s loss could have been avoided had P taken measures which it would have been reasonable for P to take, or
b
in so far as P’s loss was not reasonably foreseeable.