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  5. 191 Cal.App.3d 301 (1987)
 

ITT DIVERSIFIED CREDIT CORP. v. HIGHLANDS INS. CO

Docket No. A018013.

191 Cal.App.3d 301 (1987)

236 Cal. Rptr. 433

ITT DIVERSIFIED CREDIT CORPORATION, Plaintiff and Appellant, v. HIGHLANDS INSURANCE COMPANY OF HOUSTON, TEXAS, Defendant and Appellant.

Court of Appeals of California, First District, Division One.

April 23, 1987.

Attorney(s) appearing for the Case

COUNSEL

Bernard S. Greenfield, Mark K. Oto, Sblend A. Sblendorio and Levy, Greenfield & Davidoff for Plaintiff and Appellant.

Leonard J. Martinet, Zenobia Lal-Wadia, Jill A. Jacobs and Williams & Martinet for Defendant and Appellant.

OPINION

NEWSOM, J.

ITT Diversified Credit Corporation (hereafter respondent or ITT) provided funding for the purchase of 64 motorcycles by Transam Motor Sports, Inc. (hereafter Transam) in accordance with the terms of an "Agreement for Wholesale Financing" (hereafter the agreement) executed by the parties in February of 1978.1 The total amount of money advanced...

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