Buell v. Williamsport Staple Co.

Citations

• 261 Pa. 180
• 104 A. 572
• 1918 Pa. LEXIS 707

Syllabus

<p>Contracts — Lease—Machinery—Lessee’s option to pur chas e-^-Exercise of option — Subsequent bankruptcy of lessor — Lessee’s liability for purchase price. ‡</p> <p>Where a corporation leased certain machinery and equipment to another company giving the latter the right to purchase same at a fixed price and providing that if lessor filed a petition in bankruptcy title should immediately pass to defendant, and defendant thereafter elected to purchase before proceedings in bankruptcy were instituted, its liability to pay the purchase-price became fixed and in an action by the trustee in bankruptcy, who sued in affirmance of the contract and did not interfere with defendant’s possession of the property, a verdict was properly directed for the plaintiff.</p>