Piedmont Canteen Service Inc. v. Johnson
By Supreme Court of North Carolina No. 459
- Release Date - Published: 1962-01-12
- Book Genre: Law
- Author: Supreme Court of North Carolina No. 459
Piedmont Canteen Service Inc. v. Johnson Supreme Court of North Carolina No. 459 read online review & book description:
By the terms of the lease agreement for use of the vending machines Piedmont was obligated to pay, and did pay, Automatic rental on three bases: (1) Initial rent, to cover Automatic's cost of placing machines in Piedmont's place of business; (2) period rent, for 65 company periods or five years to cover amortization of the cost of machines to Automatic; and (3) residual rent, a nominal rental charged by Automatic for use of machines more than five years old.
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