Puritan Finance Corp. v. Gumdrops, Inc.

This case involving a replevin action is before this court for the second time. Puritan Finance Co. brought suit against defendant, Gumdrops, Inc., seeking to recover possession of certain electronic sound equipment in which Puritan held a perfected security interest. Puritan had originally entered into a financing agreement with Bobolar Productions, Ltd., whereby Puritan made a loan to Bobolar in the amount of $21,000 for the purchase of the equipment which was thereafter installed in the Ivanhoe Theater. Following its failure to make any payments under the agreement, Bobolar vacated the…