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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Moore v. Ford Motor Credit Co., 778 S.W.2d 657 (1989)

Citation
Moore v. Ford Motor Credit Co., 778 S.W.2d 657 (1989)
Parent Document
Moore v. Ford Motor Credit Co., 778 S.W.2d 657 (1989)
Jurisdiction
Kentucky (state)
Effective Date
1989-10-20

Other Sections in This Document (35)

Full Text

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In simple terms, this provision allows the lessor to obtain possession of the property, terminate the lease and at the same time accelerate the remaining monthly payments due under the lease. Further, if the lessor sells the vehicle, it is allowed to keep the proceeds up to the amount the lessor “would have had invested in the vehicle,” presumably the residual value, before applying any sums to mitigate the lessee’s damages. We have no problem allowing the lessor to recapture the anticipated residual value before crediting the lessee with any of the proceeds. See Keeling v. Ford Motor Credit Company,