United States Leasing Corp. v. duPont

Defendants appeal from a judgment entered in an action for declaratory relief brought to establish and enforce their liability under a written guaranty executed in connection with a lease of certain restaurant and kitchen equipment by plaintiff United States Leasing Corporation (USLC) to Cal-West Aviation, Inc. (Cal-West).

Plaintiff USLC is a corporation engaged in the business of purchasing personal property and leasing such property to others, maintaining no inventories of equipment other than property it has repossessed upon breaches of such leases. Cal-West is a corporation which embarked…