Central Accept. Corp. v. Colonial Bank of Ala.

These appeals come to us from a summary judgment in favor of the plaintiff, Colonial Bank, against Central Acceptance Corporation, Raymond Evans, and Bryant Whitmire, Jr., as administrator ad litem of the estate of Sue Evans, deceased.

Central Acceptance was engaged in the business of financing accounts receivable. Colonial Bank entered into a loan agreement with Central Acceptance on April 5, 1979, pursuant to which Colonial made cash advances to Central Acceptance to enable Central to purchase installment sales contracts from third parties. Central Acceptance assigned Colonial its rights in…