Allcorn v. Commonwealth Mutual Fire Insurance

Opinion bt

Hirt, J.,

The plaintiffs are common carriers engaged in commercial hauling. In October 1947 they bought a new “Great Dane 31-foot van semi-trailer” for $3,250 from Chester Mack Sales and Service Inc. They made a down payment of $900 and entered into a bailment lease with the sales company providing for the payment of the remaining purchase price in installments. There was a financing charge amounting to $881.50 which was added to the original cost of $3,250. The credit of the down payment left a balance of $3,231.80 which the plaintiffs agreed to pay, by the terms of the lease, in 23…