In the case of Davis v. Aetna Acceptance Co., 1934, the Supreme Court ruled on a matter involving automobile repossession and resale procedures. The plaintiff, Davis, had purchased an automobile from Aetna Acceptance Company under a conditional sales contract which allowed for repossession if payments were not made as agreed upon. After defaulting on his payments, the car was repossessed by Aetna and resold without notice to Davis or opportunity for him to pay off his debt and reclaim possession of the vehicle. This action was in violation of Illinois law at that time which required such notice be given before resale after repossession could occur. Davis sued Aetna for damages resulting from this unlawful sale but lost in lower courts due to their interpretation that he had waived these rights when signing the initial purchase agreement with its included terms allowing for such actions upon default. The Supreme Court reversed these decisions stating that public policy did not allow individuals to waive statutory protections through private contracts unless explicitly stated within those statutes themselves - something not present in this case's relevant laws.

The dissenting opinion in the case of Davis v. Aetna Acceptance Co., 1934, argued that the majority's decision to reverse and remand was incorrect because it failed to consider important aspects of contract law. The dissent pointed out that when a party enters into a contract, they are bound by its terms unless those terms are illegal or unconscionable. In this case, the defendant had agreed to pay for damages caused by theft but not for those resulting from conversion (unauthorized use). When his car was stolen and subsequently damaged during an unauthorized use, he sought compensation under his insurance policy with Aetna Acceptance Co. However, according to the dissenting justices, since conversion wasn't covered under their agreement as per explicit exclusion clause in insurance policy; hence there should be no obligation on part of insurer company i.e., AETNA ACCEPTANCE CO., to compensate him for such damage.