Modern Auto Finance Corp. v. Preston

The following facts were found: On December 8, 1959, the defendant entered into a retail instalment contract with Gitlen Motors, Inc., for the purchase of a 1953 Hudson automobile. The contract provided in part that if the defendant was in default for ten days or more, the holder of the contract could take possession, subject to the right of the defendant to redeem the car within fifteen days thereafter, and if such redemption did not occur, the car could be sold according to law. The contract provided for a purchase price of $470, to which was added insurance and finance charges, bringing…