Congress Financial Corp. v. Sterling Coin-Op. Machinery Corp.

MEMORANDUM AND ORDER

FULLAM, District Judge.

In October of 1962, plaintiff entered into a written agreement with the defendant Sterling Coin-Op. Machinery Corporation for the financing of installment sales of dry-cleaning equipment by the defendant to its retail customers. Under the terms of this agreement, the defendant Sterling Coin-Op. Machinery Corporation guaranteed in extremely broad terms, the payment of all such installment contracts by the debtors, and agreed unconditionally to make good the remaining balance due on any account in default, upon 30 days notice. By separate written…