Central States Stamping Co. v. Terminal Equipment Co.

LIVELY, Chief Judge.

This appeal and cross-appeal are from the judgment in a diversity action which was a companion case to Melamed v. Lake County National Bank, 727 F.2d 1399 (6th Cir.), decided this date.

I

The appellee Central States Stamping Company (Central States) contracted to purchase a “slitting line” — a machine which takes a wide coil of steel as it comes from a steel mill and cuts it to narrow widths and recoils it for further processing — from Terminal Equipment Company, Inc. (Terminal) in January 1977. Prior to making the decision to purchase, Wayne Scheer, president of Central…