Crouse v. First Trust Union Bank

Order unanimously reversed, on the law, without costs, and judgment granted in favor of defendant, in accordance with the following memorandum: The defendant bank loaned $1,400 to the plaintiff and took back from the plaintiff a promissory note and a security agreement covering plaintiff’s automobile. When the plaintiff defaulted on the loan, the bank, peaceably took the automobile for the purpose of selling it, as authorized by the terms of the agreement and by sections 9-503 and 9-504 of the Uniform Commercial Code. The plaintiff then brought this action to declare those sections of the…