Int'l Paper Credit Corp. v. Columbia Wax Prods. Co., 79 A.D.2d 700 (N.Y. App. Div. 1980). · Go Syfert
Int'l Paper Credit Corp. v. Columbia Wax Prods. Co., 79 A.D.2d 700 (N.Y. App. Div. 1980). Cases Citing This Book View Copy Cite
“he paucity of bidders at the auction and the low sale price for which the machinery had been sold was not the result of a commercially unreasonable sale, but reflective of the lack of demand for the product.”
19 citation events (2 in the last 25 years) across 6 distinct courts.
Strongest positive: CCO Condo Portfolio (AZ) Junior Mezzanine, LLC v. Feldman (nysd, 2024-02-14)
Top citers, strongest first. 4 distinct citers. How cited ↗
examined Cited as authority (verbatim quote) CCO Condo Portfolio (AZ) Junior Mezzanine, LLC v. Feldman
S.D.N.Y. · 2024 · quote attribution · 1 verbatim quote · confidence high
he paucity of bidders at the auction and the low sale price for which the machinery had been sold was not the result of a commercially unreasonable sale, but reflective of the lack of demand for the product.
cited Cited "see" Thomas J. Matthews v. Cti Container Transport International Inc.
2d Cir. · 1989 · signal: see · confidence high
See id. 424 N.Y.S.2d at 830 .
cited Cited "see" Matthews v. CTI Container Transport International Inc.
2d Cir. · 1989 · signal: see · confidence high
See id. 424 N.Y.S.2d at 830 .
discussed Cited "see" Goldstein v. Aleet Leasing Associates II (In Re Spangler) (2×)
D. Maryland · 1986 · signal: see · confidence high
See International Paper Credit Corp. v. Columbia Wax Products Co., 102 Misc.2d 738 , 424 N.Y.S.2d 827 (Sup.Ct.1980), rev’d on other grounds, 79 A.D.2d 700, 434 N.Y.S.2d 270 (1980).
Retrieving the full opinion text from the archive…
International Paper Credit Corporation
v.
Columbia Wax Products Co., Inc.
Appellate Division of the Supreme Court of the State of New York.
Dec 29, 1980.
79 A.D.2d 700
Cited by 8 opinions  |  Published

In an action to recover damages for breach of a lease involving a candle-milling machine, plaintiff appeals from a judgment of the Supreme Court, Queens County, dated January 31, 1980 which, dismissed the complaint. Judgment reversed, without costs or disbursements, complaint reinstated, and matter remitted to Trial Term for further proceedings consistent herewith. The testimony of the witnesses of both plaintiff and defendants established that there had been little or no market for the rental or purchase of the candle-milling machinery offered at the auction. Consequently, the paucity of bidders at the auction and the low sale price for which the machinery had been sold was not the result of a commercially unreasonable sale, but reflective of the lack of demand for the product (see Bankers Trust Co. v Bowler & Co., 47 NY2d 128, 135-136). The trial court’s conclusion that these factors rendered the sale commercially unreasonable was incorrect. However, the testimony at trial was in conflict as to whether on the day of the auction, prior to the final sale, defendant Grupe had advised a representative of plaintiff that the bidder at the auction had been authorized to pay up to $11,000 for the equipment. If this were the case, then the acceptance of a $2,000 bid, where it was within plaintiff’s authority to reject any or all bids, might be concluded to be unreasonable. Therefore we remand the matter to Trial Term for resolution of the factual dispute and reconsideration of whether, in light of all the surrounding circumstances, including the lack of market for the equipment and the knowledge or lack of knowledge that the bidder might pay up to $11,000, the sale for $2,000 was reasonable. Damiani, J. P., Titone, Cohalan and Weinstein, JJ., concur.