[Download] "Intercontinental Leasing, Inc. v. Lehr" by Supreme Court of Kansas " eBook PDF Kindle ePub Free

eBook details

Title: Intercontinental Leasing, Inc. v. Lehr
Author : Supreme Court of Kansas
Release Date : January 08, 1972
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 62 KB

Description

The opinion of the court was delivered by The defendants appeal from a summary judgment entered against
them in the sum of $16,773.48. The background facts were stipulated by the parties in a
pre-trial order. The defendants organized a retail meat
corporation, Colonial Meats, Inc. (Colonial). The corporation was
short lived. It acquired its business tools and equipment by
executing a written leasing agreement with Intercontinental
Leasing, Inc. (Intercontinental). The leasing agreement was dated
January 21, 1966. Contemporaneously the defendants, being the
incorporators, stockholders, directors or officers of Colonial,
entered into a written guaranty agreement as an inducement to
Intercontinental to purchase and deliver the tools and equipment
to Colonial. The leasing agreement covered a term of five years
and required monthly payments totaling $23,808.60. Colonial paid
eight monthly installments and then defaulted. Five
[209 Kan. 133]