Treptow Co. v. Duncan Aviation, Inc.

These appeals, which have been consolidated, arise out of a controversy concerning the sale of a Beechcraft Baron airplane. On April 26, 1974, the plaintiff, Treptow Co., entered into an equipment acquisition agreement with the defendant NBC Leasing Co., which was in substance a lease-purchase agreement. The agreement provided for monthly payments of $2,040 over a 6-year period with an option to the lessee-purchaser to purchase the airplane by payment of the “principal balance” due as shown on an amortization schedule.

The airplane was sold by the defendant Duncan Aviation, Inc., but since the…