District Court, S.D. New York May 11, 1981, No. 80 Civ. 5547(MEL) (Credit Alliance Corp. v. Joshco Mining Corp.)

LASKER, District Judge.

On September 20, 1977, defendant Joshco Mining Corporation (“Joshco”), entered into a conditional sales contract (“note”) with Simmons Machinery Co., Inc. (“Simmons”) for the purchase of certain equipment to be used by Joshco in its mining operations. Defendants James G. Sauls, Sr. and Grady C.