Claude Neon Lights, Inc. v. Kingsberg

Plaintiff entered into an agreement with defendants and their brother to lease to the three of them a certain sign at a stipulated rental per month, with the provision that in certain contingencies the entire balance of the rental should become due. The lease further contained a provision that at its conclusion upon full performance by the lessee the lessors would deliver a bill of sale of the sign upon payment of one dollar. During the term of the lease, the defendants’ brother was petitioned into bankruptcy, and the sign was seized as one of his assets by the trustee in bankruptcy. An order…