Colbath v. Mechanicks National Bank

96 N.H. 110 (1950)

GEORGE A. COLBATH & a

v.

MECHANICKS NATIONAL BANK.

No. 3872.

Supreme Court of New Hampshire.

January 3, 1950.

Maurice A. Broderick (by brief and orally), for the plaintiff.

Orr & Reno and Eugene C. Struckhoff (Mr. Struckhoff orally), for the defendants.

BLANDIN, J.

The plaintiff, while admitting a valid factors lien was created by the agreement by the borrower with the bank, claims it was later invalidated because, first, the borrower was permitted by the defendant bank to use the proceeds of sales in the ordinary course of business without accounting to the defendant; second, there…