IBM CREDIT FIN. CORP. v. MAZDA MOTOR MFG. (USA) CORP.


245 A.D.2d 78 (1997)

665 N.Y.S.2d 645

IBM Credit Financing Corporation, Appellant, v. Mazda Motor Manufacturing (USA) Corporation, Now Known as Autoalliance International, Inc., Respondent

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

December 9, 1997


We agree with the trial court's finding that plaintiff had clearly repudiated the parties' sale and lease-back agreement by advancing an untenable interpretation based upon a foreseeable tax factor that had been consistently absent from the pre-contractual negotiations and the governing documents while other tax assumptions were an express part of the understanding of the parties. Plaintiff's proffered view of the transaction would have made no economic sense for defendant...

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