James Talcott, Inc. v. Glenn D. Wilcox, Trustee in Bankruptcy for R. B. Leonard, Inc. And Leonard Window Corporation, Bankrupt

JONES, Circuit Judge.

Although the caption of this cause indicates there are two bankruptcy estates involved, the record 1 and the briefs refer to the bankrupt in the singular and we shall do the same. In December of 1959, the bankrupt, 2 for whom the appellee is trustee, entered into a written factoring agreement with the appellant, James Talcott, Inc. The agreement provided for the assignment to the appellant by the bankrupt of accounts receivable owing to the bankrupt as collateral security for loans and advances to be made by the appellant to the bankrupt. The agreement, in form, was a…