L. C. Williams Oil Co. v. NAFCO Capital Corp.

JOHN, Judge.

Defendant appeals denial of its motion to dismiss. We reverse the trial court.

Pertinent facts and procedural history are as follows: Plaintiff and defendant entered into an agreement entitled “Lease/Finance Proposal” (the agreement), signed by plaintiff on or about 5 December 1995. The agreement designated defendant, NAFCO Capital Corp. (NAFCO; defendant), as “Lessor/Lender” and plaintiff, L. C. Williams Oil Co. (Williams; plaintiff), as “Lessee/Borrower.” Critical to the instant appeal is whether the agreement constituted a “lease” or a “loan.”

The agreement contained the…