Harmon v. Komisar

On August 27, 1930, I. Komisar, trading under the firm name of Peoples Furniture Company, entered into a contract with the Hartman Furniture Company for the purchase of certain conditional sales contracts in which the title to the furniture was retained. The contracts were divided into two classes. The first lot, totaling $9421.65, he purchased at the rate of forty-five cents on the dollar, or for a total of $4239.74. The contracts were classified, on account of the age and manner in which payments had been made on same, as “active accounts.” The second lot, classified as “doubtful accounts,”…