Addressograph-Multigraph Corp. v. Zink

In February, 1970, George Zink, trading as Peacock Printing Company, leased from C.I.T. Leasing Corporation (C.I.T.) a VariTyper, a Headliner and a Waxer, all manufactured by VariTyper Corporation, then a subsidiary, and now a division, of Addressograph-Multigraph Corporation (Addressograph). The equipment, purchased at an unspecified date from Addressograph by C.I.T., had been delivered to Zink’s printing plant in late December, 1969, where it had been serviced by Addressograph.

Zink’s lease with C.I.T., which was for a term of five years, called for an advance payment of five monthly…