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TILDEN OF NEW JERSEY, INC. v. REGENCY LEASING SYS., INC.

230 A.D.2d 784 (1996)

646 N.Y.S.2d 700

Tilden of New Jersey, Inc., Respondent, v. Regency Leasing Systems, Inc., et al., Appellants, et al., Defendant

Appellate Division of the Supreme Court of the State of New York, Second Department.

August 12, 1996

Ordered that the order is affirmed, with costs.

In 1981 and 1982, the plaintiff Tilden of New Jersey, Inc. (hereinafter Tilden), entered into two separate but identical loan and security agreements with the defendants Regency Leasing Systems, Inc., and Regency Leasing Associates II (hereinafter collectively referred to as Regency). Tilden agreed to advance funds over time to Regency for the purchase of "exotic and `high-end'" vehicles for purposes of leasing. As security...

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