(DOWNLOAD) "Industrial Leasing Corporation v. Howard" by Supreme Court of Idaho No. 11359 * eBook PDF Kindle ePub Free

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eBook details

• Title: Industrial Leasing Corporation v. Howard
• Author : Supreme Court of Idaho No. 11359
• Release Date : January 27, 1974
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 64 KB

Description

This action was brought by the lessor of farm machinery to recover damages for failure of the lessees to make installment payments as provided in the lease. The trial court, sitting without a jury, entered judgment in favor of the lessor. In reaching its decision, the trial court held that the lessor was under no duty to attempt to re-lease or sell the equipment in order to mitigate damages, and thus awarded damages in the amount of the accrued unpaid installments then due plus attorney fees, late payment charges and interest as provided for in the lease. Appeal is taken from the judgment and the Conclusion of law that the lessor was under no duty to mitigate damages, and from the measure of damages adopted by the trial court,[Footnote 1] as well as upon other findings. Plaintiff-respondent Industrial Leasing, as lessor, entered into a lease of farm machinery with Howard and Mary Thomason, husband and wife, defendant-appellants, on April 15, 1971, later amended on May 31, 1971. The lease term was to run 68 months. The amended lease called for an initial payment of $18,796.15 when signed and semiannual payments of $19,802.47 beginning on December 10, 1971. The total payments called for under the lease were $216,820.85. Appellant used the equipment in his farming operation during the farming season of 1971. Then, upon the advice of his doctor, he retired from farming for health reasons. After retiring and having no further use for the equipment, he cleaned it and returned it to the dealer from which Industrial Leasing had purchased it.

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