Consider a transaction that has three parties: (1) JWCJR Corp. (JWCJR) and its owner, John W. Cumberledge, Jr., (2) Bottomline Systems, Inc., and (3) Colonial Pacific Leasing Corp. JWCJR/Cumberledge, an autobody shop and its owner, sought a computer and software package that would allow the shop to generate estimates for insurance companies and improve the way the shop was managed. Bottomline demonstrated a computer and software system to JWCJR/Cumberledge. JWCJR/Cumberledge decided to obtain the system Bottomline demonstrated and subsequently entered into an agreement with Colonial Leasing. Colonial Leasing then purchased equipment from Bottomline. JWCJR/Cumberledge agreed to make payments to Colonial Leasing. What kind of lease do these facts indicate? If the computer system does not work, why does it matter what kind of lease exists? [Colonial Pacific Leasing Corp. v. JWCJR Corp., 977 P.2d 541 (1999).]
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Consider a transaction that has three parties: (1) JWCJR Corp. (JWCJR) and its owner, John W. Cumber...
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