Legal Opinion
Banco Popular North America v. Victory Taxi Management, Inc.
New York Court of Appeals
Decided February 19, 2004PublishedCited by 90 opinions
POINTS OF COUNSEL
1Opinion of the Court
OPINION OF THE COURT
Graffeo, J.
At various times over the course of a year, defendant Victory Taxi Management, Inc. purchased 14 taxicabs with financing provided by plaintiff Banco Popular North America. Victory subsequently discontinued business operations and defaulted on the loans, owing Banco Popular more than $160,000 under the terms of its vehicle retail installment contracts. After Banco Popular demanded payment in full, the parties agreed that Victory would sell 10 of its vehicles to offset the debt. The proceeds of these sales—$25,000—was paid to Banco Popular to reduce Victory’s…
2Cases cited5 opinions
- Zuckerman v. City of New YorkNew York Court of Appeals · 1980
- Mallad Construction Corp. v. County Federal Savings & Loan Ass'nNew York Court of Appeals · 1973
- Grasso v. AngeramiNew York Court of Appeals · 1991
- Interman Industrial Products, Ltd. v. R. S. M. Electron Power, Inc.New York Court of Appeals · 1975
- Ehrlich v. American Moninger Greenhouse Manufacturing Corp.New York Court of Appeals · 1970
3Cited by90 opinions
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