Universal Credit v. Schlossman's

1 Citing case

  1. Matter of General Motors v. Maloney

    46 Misc. 2d 251 (N.Y. Sup. Ct. 1965)   Cited 4 times
    In Matter of General Motors Acceptance Corp. v. Maloney (46 Misc.2d 251) although a conditional sales contract was involved while in the instant case it is an inventory lien, the court vacated a levy and directed the Sheriff to deliver the property to the petitioner, holding that a levy cannot relieve the conditional vendor of his obligation under the contract to pay the installments as they come due, nor can the levy void the conditional vendor's statutory right to repossession when there is a default in payment.

    It has been held that where a conditional vendee defaults in payment prior to a levy, the right of a conditional vendor to repossession is superior to the Sheriff's right to take possession pursuant to the levy. ( Universal C.I.T. Credit Corp. v. Schlossman's, 37 Misc.2d 1097; Matter of D.L. Dineen Sales Serv. Corp. v. Hall, 13 Misc.2d 560.) Here, however, the levy was effected prior to the default.