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AIRCRAFT INVESTMENT CORP. v. PEZZANI & REID EQUIPMENT CO.

Civ. A. No. 21013.

205 F.Supp. 80 (1962)

AIRCRAFT INVESTMENT CORPORATION, a Texas Corporation, Plaintiff, v. PEZZANI & REID EQUIPMENT COMPANY, a Michigan Corporation, Defendant.

United States District Court E. D. Michigan, S. D.

May 4, 1962.

Attorney(s) appearing for the Case

T. G. Daines of Daines & Daines, Highland Park, Mich., for plaintiff.

Frederick McGraw, McGraw, Lynch, McInally & Ferguson, Detroit, Mich., for defendant.

LEVIN, Chief Judge.

This diversity action poses the classic problem of a dispute between a mortgagee of certain goods and the purchaser of these goods at retail from the insolvent mortgagor.

In April 1960, defendant, Pezzani & Reid Company, a Michigan corporation, ordered a new airplane from the now bankrupt Air-O-Fleet Corporation, a Michigan retailer of airplanes. The defendant paid on account a sum in cash. The balance of the purchase price was the...

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