Uvesco, Inc. v. Petersen

Upon a review of the record on appeal and consideration of the briefs and oral argument of the parties we are of the opinion that no reversible error has been demonstrated. The instruments executed by the parties pursuant to a sale lease-back transaction clearly reflect a method of financing which was agreeable to all parties. The lease in question specifically provided that upon default (either in payments to be made under the lease or in payments to be made under a supplementary mortgage agreement) the tenant’s interest would terminate and the title to and ownership of all buildings…