ESTATE OF ZUBICKI v. RUTHERFORD

Civ. No. 950012.

537 N.W.2d 559 (1995)

ESTATE OF Bernard F. ZUBICKI, Plaintiff and Appellant, v. Gary RUTHERFORD and Leisure Industries, Inc., Defendants and Appellees.

Supreme Court of North Dakota.

September 26, 1995.


Attorney(s) appearing for the Case

Jon R. Brakke, Vogel, Brantner, Kelly, Knutson, Weir & Bye, Ltd., Fargo, for plaintiff and appellant.

David L. Johnson, McNair, Larson & Carlson, Ltd., Fargo, for defendants and appellees. Appearance by Aaron Dorrheim, Law Clerk.


VANDE WALLE, Chief Justice.

The Estate of Bernard Zubicki appealed from a district court judgment holding that a sale and leaseback of equipment and inventory created a security interest, and was not a true lease. We affirm.

Heritage Marketing Inc. [Heritage] was a Florida corporation that manufactured replica "kit" cars. In 1990, Heritage borrowed money from Stafford Contracting Corporation Profit Sharing Plan [Stafford], a company owned by Bernard Zubicki...

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