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FLEMINGTON BANK v. DOMLER CORP

65 A.D.2d 29 (1978)

Flemington National Bank & Trust Company (N. A.), Respondent, v. Domler Leasing Corporation, Appellant, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, First Department.

November 14, 1978

Attorney(s) appearing for the Case

Arthur Karger of counsel (David Abramowitz, attorney), for appellant.

Milton Shermet of counsel (Richard S. Feldman with him on the brief; Winick & Shermet, P. C., attorneys), for respondent.

MARKEWICH and SANDLER, JJ., concur with LUPIANO, J.; MURPHY, P. J., and SULLIVAN, J., concur in an opinion by MURPHY, P. J.

LUPIANO, J.

Defendant Domler Leasing Corporation, by written lease dated October 18, 1972 (eff Nov. 14, 1972), leased four knitting machines for a term of four years to Roselle Knitting Mills, Inc. and Twintex Incorporated as colessees. Domler had purchased the machines from Chrysler Machinery, Ltd. for $100,000. The lease required the colessees to make 47 monthly rental payments of $2,800.35 each, aggregating...

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