Lawguy...more sol/ucc questions
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Posted by nc
(208.190.181.225) on April 10, 2003 at 10:48:52:
Hiya AGAIN, lol. I have more questions from yesterday's post of SOL and UCC Article 2. I understand that Article 2 would not apply if the vehicle was purchased privately, etc, as you stated in my last post. However, would Article 2 apply if the vehicle was purchased from a dealership? We bought it from a dealership, with financing the dealership located for us. Not sure if this would qualify under the merchant thing. Also, not sure if this would be part of the disqualification of Article 2 of "only having the purpose of a secured transaction" such as the situation you described if we purchased it privately with financing we found for ourselves. In this case, yes, the transaction of security would only have that purpose...the bank was in no way involved with a sale. It would not seem disqualified, since the vehicle was purchased from a "merchant" who regularly does business in that field. I know, I'm probably still off base. I just remember reading a citation (which I can't find now that I'm looking for it) involving Ford Motor Credit and how the lawyer stated the SOL for Article 2 for a man who had bought a car through FMC that was repo'd and the Judge agreed that SOL fell under Article 2. Whychat mentioned that Article 2 and the SOL applies to merchant to merchant situations. Article 9 would apply to secured transactions, but lists no SOL. It seems cruddy that Article 9 would apply but not article 2. I guess I will have to look further into RISA (if I can find anything applicable) and motor vehicle sales. Having a tough time finding anything within these laws. Thanks Lawguy. I owe you lunch or something. I hope I'm not crossing any lines about legal advice...that is not my intention. I am just trying to gather information and get my attention focused in the right direction. Thanks for your input! Nikki
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