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WPL MARINE SERVICES, INC. v. WOODS-TUCKER AIRCRAFT

No. 12066.

361 So.2d 1304 (1978)

WPL MARINE SERVICES, INC. v. WOODS-TUCKER AIRCRAFT & MARINE LEASING CORPORATION.

Court of Appeal of Louisiana, First Circuit.

Rehearing Denied August 31, 1978.

Writs Refused October 26, 1978.

Attorney(s) appearing for the Case

George R. Covert, Baton Rouge, of counsel for plaintiff-appellant WPL Marine Services, Inc.

Clarence G. Favret, Jr., New Orleans, of counsel for defendant-appellee Woods-Tucker Aircraft & Marine Leasing Corp.

Before LANDRY, SARTAIN and ELLIS, JJ.

ELLIS, Judge.

Plaintiff WPL Marine Services, Inc. negotiated the purchase of the MV "Toledo" from Atlantic Towing Corporation in August, 1974, for the price of $185,000.00, and sought financing of $160,000.00 of that amount from Woods-Tucker Aircraft & Marine Leasing Corporation. On October 15, 1974, Atlantic sold the "Toledo" to Woods, and on October 16, 1974, Woods and WPL entered into a "Bareboat Charter/Lease Agreement and Guaranty", by virtue of which Woods...

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