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UNIVERSAL LEASEWAY SYSTEM, INC. v. HERRUD & CO.

Docket No. 87, Calendar No. 48,760.

366 Mich. 473 (1962)

115 N.W.2d 294

UNIVERSAL LEASEWAY SYSTEM, INC., v. HERRUD & COMPANY.

Supreme Court of Michigan.

Decided May 18, 1962.

Attorney(s) appearing for the Case

Schmidt, Smith, Howlett & Halliday (Laurence D. Smith, of counsel), for plaintiff.

Warner, Norcross & Judd (Harold S. Sawyer and Joseph B. White, of counsel), for defendant.

KELLY, J.

Appellant is the successor to Reo Truck Leasing, Inc., and is in the business of leasing truck fleets to various businesses and industries.

Defendant is in the meat processing business in Grand Rapids and on January 5, 1954, sold its trucks to plaintiff for an agreed value of $40,600 and, at the same time, entered into an agreement to lease the trucks from plaintiff. The lease agreement provided for termination...

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