Middle Atlantic Credit Corp. v. First Pennsylvania Banking & Trust Co.

Opinion by

Flood, J.,

This is an appeal from the refusal of the court below to grant plaintiff’s motion for judgment on the pleadings. The following are the undisputed facts under the pleadings:

On August 18, 1959, the plaintiff entered into a security agreement with M. Zucker Co., with respect to accounts receivable of Zucker purchased by the plaintiff. The agreement provided that Zucker was to receive the proceeds of the accounts in trust for the plaintiff and deliver them to plaintiff in their original form. This security interest was duly perfected by the plaintiff by filing financing…