Legal Opinion
Equico Lessors, Inc. v. Mines
California Court of Appeal
Decided August 30, 1978No. Civ. 41707PublishedCited by 3 opinions
1Opinion of the Court
Opinion
HALVONIK, J.
Appellants Robert Mines and William Jenkins are medical doctors who signed leases for oil well drilling equipment with International Medical Leasing, Inc. (IML). Appellants entered the agreement for the purpose of obtaining a tax shelter. They paid rent on the leases until their tax deductions were disallowed, then they stopped. Respondent Equico Lessors, Inc., assignees of IML, brought this action to recover unpaid rent. Appellants’ principal defense was that there had been a failure of consideration because the equipment had not been delivered. The trial court held that…
2Cases cited6 opinions
- American National Bank of San Francisco v. A. G. Sommerville, Inc.California Supreme Court · 1923
- Siebe v. Joshua Hendy Machine WorksCalifornia Supreme Court · 1890
- Splivallo v. PattenCalifornia Supreme Court · 1869
- Mann v. AndrusCalifornia Court of Appeal · 1959
- Gambrill v. DworackCalifornia Court of Appeal · 1922
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Union Mutual Life Insurance Company v. Chrysler Corporation, Union Mutual Life Insurance Company v. Chrysler Corporation, Appeal of Computer Systems of America, Inc., Union Mutual Life Insurance Company v. Chrysler CorporationCourt of Appeals for the First Circuit · 1986
- Union Mutual Life Insurance v. Chrysler Corp.Court of Appeals for the First Circuit · 1986
- Wells Fargo Bank Minnesota v. B.C.B.U.California Court of Appeal · 2006