On May 22, 1956 Pace Motors, Inc., conditionally sold a 1956 Oldsmobile to Joseph Lichtman. Two days later Pace assigned the conditional sales contract to General Motors Acceptance Corporation (GMAC), which, on May 29, 1956, filed the contract in Bergen County, New Jersey, the county in which Joseph Lichtman resided.
On August 23, 1957 Lichtman defaulted on his conditional sales contract, owing GMAC $970.92 at that time. GMAC...
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