Warren Tank Car Co. v. Dodson

Opinion by

Mr. Justice Stern,

Plaintiff manufactures rolling stock. Defendant operates a traveling carnival. On May 10, 1929, plaintiff leased to defendant eighteen flat cars for a term from October 1, 1929, to April 1, 1932, at a rental of $40,766, payable in six semi-annual installments of $6,794.33 each, the last of which was due on April 1,1932. If defendant performed all the terms of the agreement he was to have the right to purchase the cars for the sum of one dollar. The lease provided that “in the event a default is made in the payment of the rental on the day whereon the same shall…