Foreign Trade Banking Corp. v. Gerseta Corp.

The plaintiff is a banking corporation. The defendant is a manufacturer of silk. The complaint alleges that plaintiff sold and defivered raw silk to defendant of the value of $18,453.34 as follows: Plaintiff defivered the silk to the Raw Silk Trading Company under a trust receipt whereby that company agreed to deliver the silk to the purchasers thereof for the account of plaintiff and to deliver the proceeds to plaintiff; that the trading company “ as agent and on behalf of plaintiff ” under said trust receipt, sold and delivered the silk to defendant “ as the property of plaintiff; ” that…