Hirsch v. Phily

The opinion of the court was delivered by

Vandekbilt, C. J.

The plaintiff appealed to the Appellate Division of the Superior Court from a judgment of the Chancery Division of that court dismissing his complaint and we have certified the appeal here on our own motion.

The plaintiff, who is in the business of discounting accounts receivable, advanced to the Artex Dyeing & Finishing Co., Inc., over a period of five years various sums for which Artex gave him demand promissory notes in the amount of each advance and, as collateral security therefor, assignments of-accounts receivable. At the time of…