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Lease Voided Due to Vendor' Default

On Oct. 31, 2007, a trial-level court in New York issued a decision finding that an equipment lease 'fail[ed] for lack of consideration' when the bankrupt vendor did not deliver the leased equipment, even though the lessee had signed a lease amendment ... a look at the ruling.

9 minute read February 29, 2008 at 08:11 AM
By
Robert M. Tils
Lease Voided Due to Vendor' Default

On Oct. 31, 2007, a trial-level court in New York issued a decision finding that an equipment lease 'fail[ed] for lack of consideration' when the bankrupt vendor did not deliver the leased equipment, even though the lessee had signed a lease amendment stating (as quoted by the court) that:

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