Ed Fanning Chevrolet, Inc. v. Servleaseco, Inc.

This is an appeal by the defendant from a default judgment entered against it in an action to rescind an equipment lease and to recover moneys paid by the plaintiff under such lease. We disregard two other parties originally involved in this litigation — Investment Control, Inc., original assignor of the equipment, and Detroit Bank and Trust, assignee of the lease between Fanning and Servleaseco since their rights have been adjudged and they are not involved in this appeal.

In 1973, Ed Fanning Chevrolet, Inc., leased certain computer equipment from Servleaseco, a Michigan corporation, and…