Contemporary Business Law 8th Edition by Henry Cheeseman

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Ethics Case Cole Energy Development Company (Cole Energy) wanted to lease a gas compressor for use in its business of pumping and selling natural gas and began nego­tiating with the Ingersoll-Rand Company (Ingersoll-Rand) for the lease of a gas compressor. The two parties entered into a lease agreement whereby Ingersoll-Rand leased a gas compressor to KOA. The lease agreement contained a section labeled "WARRANTIES." Part of the section read:
THERE ARE NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE CONTAINED HEREIN.
The gas compressor that was installed failed to function properly. As a result, Cole Energy lost business. Cole Energy sued Ingersoll-Rand for the breach of an implied warranty of merchantability. Is Ingersoll-Rand liable? Has Cole-Energy acted ethically in bringing the lawsuit? Has Ingersoll-Rand acted ethically in denying liability for the failure of a product it sold? Cole Energy Development Company v. Ingersoll-Rand Company , 678 F.Supp. 208, Web 1988 U.S. Dist. Lexis 923 (United States District Court for the Central District of Illinois)