(3) The buyer has a right of replevin for goods identified to the contract if after reasonable effort he is unable to effect cover for such goods or the circumstances reasonably indicate that such effort will be unavailing or if the goods have been shipped under reservation and satisfaction of the security interest in ...
Creditors use replevin actions to recover collateral when debtors default on secured loans. For example, a bank might file a replevin action against a borrower to repossess the borrower's car after he missed too many payments.
Walker that, because a mutual mistake affecting the substance of the transaction had been made, Hiram Walker had a right to rescind the contract and keep the cow. Law students ever since have studied the case as a classic example of the contracts law doctrine of rescission based on mutual mistake.
Re·plev·in ri-ˈple-vən. : an action originating in common law and now largely codified by which a plaintiff having a right in personal property claimed to be wrongfully taken or detained by the defendant seeks to recover possession of the property and sometimes to obtain damages for the wrongful detention.
The Complaint: The complaint in replevin typically must include: (i) a description of the property to be replevied; (ii) its value; (iii) its location if known; and (iv) the material facts upon which the claim is based – in other words, why the filing party is entitled to seize the property that has been taken.
A writ of replevin is a powerful tool in the legal arsenal for those seeking the return of wrongfully held property in New York. However, with power comes responsibility, and the replevin surety bond serves as a check, ensuring the protection of all parties involved.
Replevin can also refer to a writ authorizing the retaking of property by its rightful owner (i.e., the remedy sought by replevin actions). Replevin may be ordered as a final judgment, or in some jurisdictions, as a provisional remedy.
Procedure for Obtaining, in Court, a Writ of Replevin The filing of a complaint begins a replevin action. As in other civil actions, the defendant is brought into Court by the service of the summons and the complaint. If the plaintiff establishes the cause of action, the Court must enter an Order granting possession.
The Complaint: The complaint in replevin typically must include: (i) a description of the property to be replevied; (ii) its value; (iii) its location if known; and (iv) the material facts upon which the claim is based – in other words, why the filing party is entitled to seize the property that has been taken.