Legal Opinion
Danleigh Fabrics, Inc. v. Gaynor-Stafford Industries, Inc.
New York Court of Appeals
Decided May 1, 1984PublishedCited by 7 opinions
APPEARANCES OF COUNSEL
1Opinion of the Court
OPINION OF THE COURT
Memorandum.
The order of the Appellate Division should be affirmed, with costs.
In accordance with a factoring agreement, a factor may charge back against the seller of textiles the full amount of invoices which are unpaid and disputed, even though the actual dispute which the seller has with its own customer may relate both to the goods which are the subject of the unpaid invoices and to goods previously paid for.
In January, 1978 plaintiff, Danleigh Fabrics, Inc., a textile converter, entered into a factoring agreement with defendant Chemical Bank. Chemical agreed to…
2Cases cited1 opinion
- Duobond Corp. v. Congress Factors Corp.New York Court of Appeals · 1976
3Cited by7 opinions
- Bonnie & Co. Fashions, Inc. v. Bankers Trust Co.District Court, S.D. New York · 1996
- Wechsler v. Hunt Health Systems, Ltd.District Court, S.D. New York · 2002
- State Bank of India v. Walter E. Heller & Co., Inc.District Court, S.D. New York · 1987
- Exportos Apparel Group, Ltd. v. Chemical BankDistrict Court, S.D. New York · 1984
- Dryden Advisory Group, LLC v. Beneficial Mutual Savings Bank (In re Dryden Advisory Group, LLC)United States Bankruptcy Court, M.D. Pennsylvania · 2015
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