In re WORTH LIGHTING & FIXTURE CO., Inc.

LEARNED HAND, District Judge.

The business of the claimant did not include, certainly in this instance, “discounting bills, notes or other evidences of debt.” The accounts for goods sold, which the bankrupt assigned to it, were not “evidences of debt.” They were dioses in action arising from sales of goods contained on the books of *773the bankrupt. What the statute means is commercial paper, which may-pass from one to another, bearing the signature of the debtor. The bankrupt had none such, and assigned none such. Besides, it did not discount the accounts. Discounting is getting the present value…