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  5. 748 F.Supp. 1365 (1990)
 

FAYSOUND LTD. v. WALTER FULLER AIRCRAFT SALES, INC.

No. LR-C-89-834.

748 F.Supp. 1365 (1990)

FAYSOUND LIMITED, Plaintiff, v. WALTER FULLER AIRCRAFT SALES, INC. and Falcon Jet Corporation, Defendants.

United States District Court, E.D. Arkansas, W.D.

October 29, 1990.

Attorney(s) appearing for the Case

Vince Foster, Jr. and Jess Askew, III, Rose Law Firm, Little Rock, Ark., for plaintiff.

Friday, Eldredge & Clark, Little Rock, Ark., for Walter Fuller Aircraft Sales, Inc.

Putnam & Roberts, New York City, and Dover & Dixon, Little Rock, Ark., for Falcon Jet.

MEMORANDUM OPINION

HENRY WOODS, District Judge.

I. STATEMENT OF FACTS

Faysound Limited ("Faysound"), a Hong Kong corporation, purchased a Falcon aircraft, the subject of this lawsuit, from the manufacturer at a cost of over nine million dollars. The plane was then leased to a Philippine corporation, United Coconut Chemicals ("UNICHEM") for a period of five years on October 23, 1982. Paragraph 6.1 of the lease agreement reads as follows:

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