Drew v. John Deere Co. of Syracuse, Inc.
Appellate Division of New York
241 N.Y.S.2d 267 (1963)
John Drew (plaintiff) defaulted on a financing agreement for a tractor. John Deere Co. of Syracuse, Inc. (John Deere) (defendant) repossessed Drew’s tractor and put the tractor up for auction. Drew appeared at the auction and bid $1,500 for the tractor. No one bid higher than Drew until the end, when the auctioneer declared that John Deere had bid $1,600. Therefore, the tractor would go back to John Deere. Drew sued John Deere, claiming that John Deere had no right to bid on the tractor, and that Drew was entitled to the tractor as the highest bidder. Drew argued that John Deere never publicly stated that John Deere would participate in the auction, which meant that the auction was held without reserve. The trial court denied Drew’s motion for summary judgment, and Drew appealed.
Rule of Law
Holding and Reasoning (Halpern, J.)
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