C.I.T. Corp. v. Jonnet

Opinion by

Mr. Justice Musmanno,

On January 30, 1961, the Commercial Appliance Company in Pittsburgh, sold to the Miracle Lanes, Inc., under a written conditional sales contract, a quantity of restaurant and bar equipment for the total sum of $33,655. On the same day, Elmer J. Jonnet, Jr., in his individual capacity, guaranteed in writing, as surety, Miracle Lanes’ obligations under the contract. The Commercial Appliance Company assigned its rights against Miracle Lanes and Jonnet to the C.I.T. Corporation, which had financed the transaction.

Through installment payments, Miracle Lanes had, by…