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What is PCI Leasing vs. Giraffe Lease Dispute about?

The petitioner PCI Leasing entered into a lease agreement with the respondent Giraffe-X Creative Imaging to lease two pieces of equipment for 36 monthly payments. Giraffe defaulted on payments after 3 months. PCI Leasing demanded payment or return of the equipment, but Giraffe did not comply. PCI Leasing obtained a writ of replevin to seize the equipment. Giraffe argued the lease agreement was actually a lease with an option to buy, making Articles 1484 and 1485 of the Civil Code applicable. The court agree

Author

Addy Guinal

Language

EN