Gentile v. Allied Energy Products, Inc.

SCHLEGEL, Presiding Judge.

On October 2, 1986, the parties entered into a written “recourse agreement” under which Warren Gentile and his son, Tom, purchased twelve retail installment accounts from Allied Energy Products. The Gentiles paid seventy-five percent of the then face value of the accounts. These accounts were debts owed to Allied Energy as a result of siding done on the debtors’ homes. Phil and Frank Pagano, the owners of Allied Energy, personally guaranteed the performance of the agreement. Checks would be sent by the debtors to Allied,, which would then remit the money to the…