Question: Consolidated Business Forms leased a Phillips business computer from Benchmark. Benchmark subsequently transferred the lease and promissory note to Exchange International Leasing Corporation. Consolidated stopped

Consolidated Business Forms leased a Phillips business computer from Benchmark. Benchmark subsequently transferred the lease and promissory note to Exchange International Leasing Corporation. Consolidated stopped making rental payments when the computer malfunctioned, and Exchange International brought this suit to recover the payments due on the promissory note. Consolidated defends on the grounds that Benchmark prevented its agent, Mr. Spohn, from examining the contents of the agreement between the two companies and further represented that the computer would be removed with a complete refund if it failed to operate properly. Is Exchange subject to Consolidated’s defense?

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