INTERCONTINENTAL LEASING, INC. v. Lehr

The opinion of the court was delivered by

Fromme, J.:

The defendants appeal from a summary judgment entered against them in the sum of $16,773.48.

The background facts were stipulated by the parties in a pre-trial order. The defendants organized a retail meat corporation, Colonial Meats, Inc. (Colonial). The corporation was short lived. It acquired its business tools and equipment by executing a written leasing agreement with Intercontinental Leasing, Inc. (Intercontinental). The leasing agreement was dated January 21, 1966. Contemporaneously the defendants, being the incorporators,…