GENTILE v. ALLIED ENERGY PRODUCTS, INC.

No. 90-1155.

479 N.W.2d 607 (1991)

Warren M. GENTILE, Plaintiff-Appellee, v. ALLIED ENERGY PRODUCTS, INC., Phil Pagano and Frank Pagano, Defendants/Counterclaim and Cross-Claim Plaintiffs/Appellants, v. Warren M. GENTILE, Thomas F. Gentile, and Warren M. Gentile d/b/a National Siding Co., a/k/a National Energy f/k/a Allied Siding, Counterclaim and Cross-Claim Defendants/Appellees.

Court of Appeals of Iowa.

November 26, 1991.


Attorney(s) appearing for the Case

Robert B. Garver, Des Moines, for appellants.

John P. Dollar, Des Moines, for appellees.

Considered by SCHLEGEL, P.J., and HAYDEN and HABHAB, JJ.


SCHLEGEL, Presiding Judge.

On October 2, 1986, the parties entered into a written "recourse agreement" under which Warren Gentile and his son, Tom, purchased twelve retail installment accounts from Allied Energy Products. The Gentiles paid seventy-five percent of the then face value of the accounts. These accounts were debts owed to Allied Energy as a result of siding done on the debtors' homes. Phil and Frank Pagano, the owners of Allied Energy, personally guaranteed...

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