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ATLAS CREDIT CORPORATION v. DOLBOW. (11/16/60)

November 16, 1960

ATLAS CREDIT CORPORATION, APPELLANT,
v.
DOLBOW.



Appeal, No. 116, Oct. T., 1960, from judgment of Court of Common Pleas of Delaware County, June T., 1956, No. 1510, in case of Atlas Credit Corporation v. David H. Dolbow et al. Judgment affirmed.

COUNSEL

Nathan B. Feinstein, with him Sylvan M. Cohen, Samuel M. Tollen, and Cohen, Shapiro and Cohen, for appellant.

Peter J. Nolan, with him Edward D. McLaughlin, for appellees.

Before Rhodes, P.j., Gunther, Wright, Woodside, Ervin, Watkins, and Montgomery, JJ.

Author: Watkins

[ 193 Pa. Super. Page 650]

OPINION BY WATKINS, J.

This appeal is from the refusal of the Court of Common Pleas of Delaware County to grant the appellant, who was the defendant in a counterclaim, a new trial or judgment n.o.v.

The facts in this matter appear to be as follows: David H. Dolbow, Olive Dolbow and Albert Dolbow, residents of the State of Delaware, purchased a boat from the Wilson Boat Company at Rehoboth, Delaware, for the sum of $5980, making a down payment of $500. Appellant, Atlas Credit Corporation, a Pennsylvania Corporation, advanced the Wilson Boat Company, the sum of $5480 and took therefor an assignment of the agreement, executed by the appellees and the Wilson Boat Company, which was called a Pennsylvania equipment lease. Under the terms of the agreement the appellees were to pay the sum of $9511.80 in equal monthly payments of $158.53 for sixty months. At the time the papers were executed the appellees executed an original and two duplicate original notes, which contained a clause for confession of judgment. The appellees took possession of the boat and made five

[ 193 Pa. Super. Page 651]

    monthly payments under the terms of the agreement. Upon default, the appellant, Atlas Credit Corporation, repossessed the boat at its location at Rehoboth, Delaware, in January 1956. The original transaction took place on or about May 6, 1955, at which time the appellant entered judgment in Delaware under the terms of the judgment note.

The repossession of the boat by Atlas Credit Corporation was peaceable and the appellees cooperated by assisting them in transferring the United States Coast Guard Certificate of Award. After having some difficulty with the boat and requiring some repairs the boat was removed from Delaware to Essington, Pennsylvania, where in May of 1956 it was sold. It appears that the appellant had advertised generally a boat for sale and did make several attempts to secure purchasers for the boat, and after the sale credited the appellees with the amount of the purchase price. However, no specific notice was given to the appellees of the time and place of sale. Thereafter, in August of 1956, a sheriff's sale on a first mortgage on property owned by the appellees located in Delaware was had and the appellant, by virtue of the judgment note which had been entered, participated in the proceeds of this sale in the amount of $1936.76. Shortly thereafter, on August 9, 1956, the appellant entered judgment on a duplicate of the original note in the Court of Common Pleas of Delaware County, Pennsylvania, and after attachment sold a 1955 Ford Victoria of one of the appellees for the sum of One Dollar and thereafter sold to a used car dealer for the sum of One Thousand ($1000) Dollars.

As the court below put it, "This case is about a boat bought by the defendants and financed by the plaintiff. The defendants ended up by losing their down money, ...


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