Associates Discount Corporation v. Palmer

The majority opinion concludes that seotion 2-725(1) (Pa. Stat. Ann. title 12A, §725(1)) of the Uniform Commercial Code (UCC) prescribing a four-year statute of limitations in actions “for breach of any contract for sale” applies to a suit for a deficiency arising out of a secured transaction of sale. In reaching this conclusion, the court is in effect saying that Pennsylvania would so decide and that it is to be the rule in New Jersey, which has since enacted the Code effective January 1, 1963, as well as laying down an interpretation which may have an effect in all 'Code jurisdictions in…