Bankvest Capital Corp. v. John Waynelovich
Published: Aug. 2, 2001 | Result Date: Jun. 4, 2001 | Filing Date: Jan. 1, 1900 |Case number: GIC740841 Verdict – $34,887
Judge
Court
San Diego Superior
Attorneys
Plaintiff
Defendant
Facts
On Sept. 16, 1998, an equipment lease agreement was executed by the plaintiff and the defendant. The equipment
is automobile diagnostic machinery. The defendant made two payments on the lease and defaulted. The
defendant refused to pay back the debt on a theory that he was defrauded by the plaintiff and the plaintiffÆs
agents.
In a typical equipment lease, the lessee (in this case, the defendant) selects equipment for use in his business
from an equipment supplier. The leasing company (in this case, the plaintiff) provides financing by actually
purchasing the equipment from the supplier and then leasing it to the lessee.
The defendant and the supplier signed and presented lease documents to the plaintiff, which represented to the
plaintiff that the defendant wanted to lease new diagnostic equipment which the defendant selected from the
supplier. However, in reality, the defendant already owned the diagnostic equipment described in the lease
documents. The supplier submitted new equipment invoices to the plaintiff for the equipment the defendant
already owned, so that the plaintiff would pay the supplier $24,500 for such equipment. Upon receipt of the
$24,500, the supplier delivered $14,000 to the defendant.
Settlement Discussions
The plaintiff demanded $38,000. The defendant made a $1,000 offer.
Other Information
A motion for attorney fees is pending. The verdict was reached approximately one year and seven months after the case was filed.
Length
one day
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