Cedar Rapids Engineering Co. v. Haenelt

This is an appeal from an order of the Supreme Court at Special Term, entered December 15, 1971 in Sullivan County, which vacated an order of replevin.

Respondent is in the business of custom engine remanufacturing. In connection with his business he purchased machín*276ery and equipment from appellant costing in excess of $62,000, including, interest and financing charges, under two security agreements. Each agreement contained an acceleration clause which permitted the vendor to take possession of the equipment without notice or demand, by process of law or otherwise, upon default in payment of…