Another Hammered Down

Leasing News printed the NorVergence "Equipment Rental Agreement"
and commented there were several provisions that even we could see that the courts would rule against, naming several, including the choice of venue ( most courts have ruled against it, citing the matter to be in the lessee's choice of venue, including the most recent one by the Illinois court.)

Here, the acceleration clause in the NorVergence rental contract form is ruled a penalty under Texas law because it may be invoked upon even a minor default.

Attorney Paul H. Cross of Irving, Texas represent the lessee in this case against IFC Credit Corporation. Here is a copy of the summary judgment:

http://leasingnews.org/PDF/Salazar,JohnR.pdf