Mann Investment Co. v. Columbia Nitrogen Corp.

Deen, Presiding Judge.

At issue in this case is whether a certain “equipment lease” and accompanying note constitute a conditional sales contract or a “true lease.” If the evidence supports the trial court’s finding of a conditional sales contract rather than a true lease, then there arises the further issue of priority between the competing security interests.

One Jowers, not a party to the action below, sought to purchase irrigation equipment from Chaney-Bush, likewise not a party to the underlying action, for use on his Coffee County farm. Jowers and appellant Mann Investment Co. (Mann)…