In March 2011, the Iowa Supreme Court sent ripples of concern, if not terror, throughout the equipment lease finance industry with an unprecedented decision refusing to afford finance lease status
C&J Vantage Leasing Co. v. Wolfe: One Year Later
In March 2011, the Iowa Supreme Court sent ripples of concern, if not terror, throughout the equipment lease finance industry with an unprecedented decision refusing to afford finance lease status to a contract between a finance company and a commercial end user, notwithstanding the fact that the parties had expressly agreed to such treatment in their written documents. Fortunately, while the <i>C&J Vantage</i> opinion may have closed a door for equipment finance companies, it opened a window. The decision's mischief-making potential is mitigated by another holding in the same opinion.
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