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LAW EASES AUTO LEASING; PROVISION IN FEDERAL TRANSPORTATION BILL ELIMINATES VICARIOUS LIABILITY IN N.Y.(Business)
- Article from:
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The Post-Standard (Syracuse, NY)
- Article date:
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August 10, 2005
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Byline: Kenn Peters Staff writer
When President Bush signs a transportation bill today during a ceremony in Illinois, he will wipe out New York's vicarious liability law and do what the state has been unable to do.
Buried deep in the transportation measure is an amendment sponsored by Rep. Sam Graves, R-Missouri, that eliminates the 1924 vicarious liability law in New York and similar laws in a few other states.
Lending institutions have withdrawn from leasing vehicles in New York and other vicarious liability states because the law said the owner of a leased vehicle the leasing company is responsible for the actions of the person who leased it.
The two ...