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PRIDE HYUNDAI, INC. v. CHRYSLER FINANCIAL

No. 03-1905.

369 F.3d 603 (2004)

PRIDE HYUNDAI, INC., Blackstone Subaru, Inc., d/b/a Pride Hyundai of Seekonk, Pride Dodge, Inc., and Pride Chrysler-Plymouth, Inc., Plaintiffs, Appellants, v. CHRYSLER FINANCIAL COMPANY, L.L.C., Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided May 27, 2004.

Attorney(s) appearing for the Case

Preston W. Halperin, with whom Christine L. DeRosa and Shechtman Halperin Savage, LLP were on brief, for appellants.

Jonathan D. Deily, with whom Richard C. Maider and Deily, Mooney & Glastetter, LLP were on brief, for appellee.

Before BOUDIN, Chief Judge, LYNCH, Circuit Judge, and HOWARD, Circuit Judge.

LYNCH, Circuit Judge.

In July 2001, Massachusetts, along with virtually every other state, revised Article Nine of its commercial code. It appears that this is a case of first impression under Massachusetts law as to the revised § 9-204.

Of primary concern here are revisions that altered § 9-204, which deals with the enforceability of dragnet clauses in secured commercial lending agreements. Dragnet clauses...

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