United States Trust Co. v. Mendelson

Martin, J.:

The plaintiff seeks to recover the sum of $5,932.85 alleged to be due from defendants to the Rush Silk Manufacturing Company and by that company assigned to the plaintiff, to secure the payment of loans. The account arose out of a factoring agreement. Defendants made two payments on it to plaintiff. There is no dispute with reference to the amount of the account, but the defendants assert that they are entitled to offset, against it, certain unpaid trade acceptances which they hold against the Rush Silk Manufacturing Company, and which were given in payment for silk sold by the…