General Corrosion Services Corp. v. "K" Way Equipment Co.

MOORE, Justice.

This is a contract case. The “K” Way' Equipment Company, Inc. (K Way), a rental lessor as plaintiff, sued General Corrosion Services Corporation (GSC), lessee, as defendant, for the value of a rented air compressor which was lost by the defendant while traveling on a public highway. The defendant lessee answered that pursuant to the terms of the “Damage Waiver” clause of the Equipment Rental Contract, its liability was limited to $250.

Trial was to the court sitting without a jury based upon an agreed statement of facts. The court found that the loss of the air compressor was…