U.S. Aircraft Financing v. Nick Jankovich

This is an action for breach of a conditional sales contract. In 1965 Nick and Paul Jankovich d/b/a Calumet Aviation Company (Jankovich) sold to U.S. Aircraft Financing, Inc. (U.S. Aircraft) an airport business at the Gary Municipal Airport. U.S. Aircraft subsequently breached the contract and Jankovich brought suit in 1974. Following a bench trial the court entered judgment for Jankovich and ordered a strict forfeiture. We reverse.