Graphics Products Distributors, Inc. v. MPL LEASING CORPORATION

Carley, Judge.

Appellants agreed to purchase certain copy machines from Saxon Business Products (“Saxon”). The purchase was financed through appellee. The agreement between appellants and appellee provided for appellants to make bi-monthly lease payments to appellee. After making several such payments, appellants defaulted on the lease agreement, and the machines were subsequently reclaimed by Saxon. Pursuant to a separate recourse agreement between Saxon and appellee, Saxon paid appellee the entire amount due under appellee’s lease agreement with appellants. Thereafter, appellee sued…