Court of Appeals of New York

The Court of Appeals answered a certified question from the United States Court of Appeals for the Second Circuit as follows: The portion of an automobile retail installment sale attributable to a trade-in vehicle's 'negative equity' is a part of the 'purchase money obligation' arising from the purchase of a new car, as defined under New York's Uniform Commercial Code.

Appellate Information

• Decided 06/24/2009
• Published 06/24/2009

Judges

Court

• Court of Appeals of New York

Counsel