Holcomb v. Commercial Credit Services Corp.

Banke, Chief Judge.

Appellant Holcomb executed an agreement with appellee Commercial Credit Services Corporation for the lease/purchase of certain computer hardware and software. The practical effect of this agreement was to provide Holcomb with financing for the acquisition of the equipment from a third party, Stenglein. Holcomb later defaulted by failing to make timely payments, whereupon Commercial Credit accelerated the remaining lease payments and demanded the resulting balance due. Thereafter, Holcomb instituted the present action against the appellee and Stenglein, the vendor of the…