Commercial Inv. Trust v. Bay City Bank

SIMONS, Circuit Judge.

The controversy results from conflicting claims to priority asserted by two assignees of the same assignor to certain accounts receivable evidenced by installment title retaining contracts and promissory notes. Appellant is a finance company, organized as a Massachusetts common-law trust, and engaged in the business of loaning money upon customer’s accounts, and appellee is a Michigan corporation, in the hanking business at Bay City. :

The material facts are as follows; Pig-got’s, Inc., was, prior to June, 1928, in the-retail furniture business, selling on the installment…