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Court of Appeal (Oh.) Addresses Priority of Security Interests: Finds for Commercial Lender in Possession of Title over Dealer’s Bona-Fide Purchaser

by Scott J. Hyman |

In La Gar Marketing, Inc. v. W. Finance & Lease, Inc., 2012 WL 4898785 (Ohio App. 9 Dist. 2012), the Ohio Court of Appeal found in favor of a commercial lender as against a bona-fide consumer purchaser of a vehicle under Ohio law.  The Court of Appeal relied on precedent finding dealer’s floor plan lender’s security interest superior to a… Read More

Court of Appeal (Cal.) Holds that Lemon Law Does Not Afford Loss-of-Use Damages for Defective Yacht without Incurring Actual Expense to Cover

by Scott J. Hyman |

In an unpublished decision involving a purportedly defective yacht, the California Court of Appeal held in Andersen v. Pacific Asian Enterprises, Inc., 2012 WL 130473 (Cal.App. 4 Dist. 2012) that the Song-Beverly Act does not afford loss-of-use damages in the absence of actual expenses expended to cover.  The facts were as follows.  In April 2003, Andersen entered into a contract… Read More

Supreme Court (Va.) Holds Spot-Delivery Dealer Retained Security Interest to Repossess Vehicle, But Still Had to Give Post-Repossession Notice

by Scott J. Hyman |

In Cappo Management V, Inc. v. Britt, --- S.E.2d ----, 2011 WL 2277386 (Va. 2011), the Supreme Court of Virginia addressed a spot delivery situation where the dealer was unable to secure financing for the consumer and, accordingly, repossessed the car.  The Court found the repossession proper under Article 9 of the UCC, explaining:   Applying this principle, we hold… Read More

Iowa Court Finds Personal Property Lease was Disguised Security Agreement

by Scott J. Hyman |

In C & J Vantage Leasing Co. v. Wolfe --- N.W.2d ----, 2011 WL 744633 (2011), the Iowa Supreme Court addressed whether a commercial personal property lease was a disguised security agreement. In finding that a triable issue of act existed as to whether the lease was a true lease, the Court explained: First, we must decide whether the lease… Read More

Appellate Court (Ga.) Says Creditor Need Not First Liquidate Repossessed Collateral in Order to Obtain Judgment on Account

by Scott J. Hyman |

In Okefenokee Aircraft, Inc. v. Primesouth Bank, 2009 WL 724113 (Ga. App. 2009), the Georgia Court of Appeal was asked to address whether the UCC prohibited entry of judgment in favor of a creditor on a contractual balance notwithstanding the fact that the creditor had repossessed, but not yet sold, the collateral.  The Court concluded that “a secured creditor can… Read More

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