BESSEMER EXECUTIVE AVIATION v. Barnett

Albert J. Barnett bought an airplane from Bessemer Executive Aviation (BEA) in 1979 and financed the purchase through Piper Acceptance Corporation. Later, Barnett and BEA entered into an arrangement whereby BEA agreed to lease the airplane to its customers. Barnett claims that BEA promised to make the purchase payment to Piper Acceptance Corporation with the excess of the rental fees over expenses. BEA, on the other hand, contends that it did not represent that there would be enough money from rentals to cover the purchase payments. Additionally, BEA claims that it did not agree to make the…