Legal Opinion
Reiber v. GMAC, LLC
New York Court of Appeals
Decided June 24, 2009PublishedCited by 15 opinions
1Opinion of the Court
OPINION OF THE COURT
Pigott, J.
The United States Court of Appeals for the Second Circuit, by certified question, asks us to decide whether “the portion of an automobile retail instalment sale attributable to a trade-in vehicle’s ‘negative equity’ [is] a part of the ‘purchase-money obligation’ arising from the purchase of a new car, as defined under New York’s U.C.C.?” (547 F3d 177, 186 [2d Cir 2008].) We find that it is.
I
On August 28, 2004, Faith Ann Peaslee entered into a retail instalment contract for the purchase of a 2004 Pontiac Grand Am.1 As part of the transaction, Peaslee traded in her…
2Cases cited5 opinions
- In Re GraupnerCourt of Appeals for the Eleventh Circuit · 2008
- In Re PriceCourt of Appeals for the Fourth Circuit · 2009
- General Motors Acceptance Corp. v. PeasleeDistrict Court, W.D. New York · 2007
- In Re PeasleeUnited States Bankruptcy Court, W.D. New York · 2006
- In Re PetrocciUnited States Bankruptcy Court, N.D. New York · 2007
3Cited by15 opinions
- Ford v. Ford Motor Credit Corp.Court of Appeals for the Tenth Circuit · 2009
- Ford Motor Credit Co. v. Dale (In Re Dale)Court of Appeals for the Fifth Circuit · 2009
- Americredit Financial Services, Inc. v. PenrodCourt of Appeals for the Ninth Circuit · 2010
- In Re PeasleeCourt of Appeals for the Second Circuit · 2009
- Ford Motor Credit Co. v. Mierkowski (In Re Mierkowski)Court of Appeals for the Eighth Circuit · 2009
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