Tishman Equipment Leasing, Inc. v. Levin

The fundamental issue in this case is whether a transaction between Tishman Equipment Leasing, Inc., which we shall call Tishman, and Underwood Plastic Corporation, which we shall call Underwood, was a lease, or a conditional sale, of certain mechanical equipment. Tishman brought this replevin action to recover possession of the equipment from Underwood. Thereafter, Underwood was adjudicated a bankrupt, and Stuart I. Levin was appointed trustee in bankruptcy. The trustee was substituted as the party defendant, and he defended on the ground that the recovery of the machinery by the plaintiff…