Steger v. Everett Bus Sales

This is an appeal by the defendant, Steger Bus Lines, from a judgment entered in favor of the plaintiff, Everett Bus Sales, for the recovery of a bus and damages for breach of a lease-purchase agreement. We reverse and remand.

On January 1, 1983, Everett Bus Sales ("Everett"), as lessor-seller, and Steger Bus Lines ("Steger"), as lessee-buyer, entered into separate agreements for the lease-purchase of two commercial buses. The buses were to be sold for $20,500 each, under identical payment plans, namely, a down payment of $3,000, plus monthly installments of $600. The installment payments for…