Walter E. Heller & Co. v. Chopp-Wincraft Printing Specialties, Inc.

MEMORANDUM

MILTON POLLACK, District Judge.

Plaintiff moves for summary judgment on its breach of contract action, alleging that defendant has defaulted in its obligation under a lease between the parties to pay rent for equipment. Defendant does not deny the default but argues that the transaction is a loan, not a lease, is usurious, and that even if it is a lease that plaintiff is bound by certain warranties concerning the equipment which defendant claims is faulty. For the reasons stated hereinafter, plaintiff’s motion for summary judgment is granted.

Jurisdiction is predicated on diversity,…