General Motors Acceptance Corp. v. Morgan

HOLMES, District Judge.

The bankrupt, a dealer in automobiles, was transacting business in its own name under the sign, “Huber Motor Company.” The petitioner, General Motors Acceptance Corporation, was in large part financing the business by furnishing money to buy the cars. It secured each loan for the purchase money by taking a bill of sale to itself from the wholesaler and a trust receipt from the retailer. The latter also gave a note for the amount. The bill of lading was then delivered to- the local dealer, who received the shipment and placed the ears on sale in its place of business.…