State Factors Corp. v. Sales Factors Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtUntermyer, J.
In 1937 Lemer Bros., a partnership engaged in the business of manufacturing fur coats, found it necessary to factor their accounts receivable. For that purpose, on April 30, 1937, they entered into a factoring contract with the defendant tmder which the defendant agreed to purchase “ without recourse,” and Lérñér Bros, agreed to assign to the defendant, all accounts receivable, subject to the right of the defendant to approve the credit of any account. Upon such assignment the defendant agreed to pay eighty per cent of the face amount of the invoices. The agreement further required that all…
2Cases cited8 opinions
- Salem Trust Co. v. Manufacturers' Finance Co.Supreme Court of the United States · 1924
- Hinkle Iron Co. v. . KohnNew York Court of Appeals · 1920
- Rochester Distilling Co. v. RaseyNew York Court of Appeals · 1894
- Fortunato v. . PattenNew York Court of Appeals · 1895
- Central Trust Co v. West India Improvement Co.New York Court of Appeals · 1901
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3Cited by8 opinions
- Sillman v. Twentieth Century-Fox Film Corp.New York Court of Appeals · 1957
- Coastal Commercial Corp. v. Samuel Kosoff & Sons, Inc.Appellate Division of the Supreme Court of the State of New York · 1960
- American East India Corp. v. Ideal Shoe Co.District Court, E.D. Pennsylvania · 1975
- Krohn v. Burton (In re Swift)United States Bankruptcy Court, E.D. New York · 2013
- Smith v. HarrisCalifornia Court of Appeal · 1954
3 more not listed; retrieve them via the Exa API.