In re the General Assignment for the Benefit of Creditors of Mincow Bag Co.

This appeal involves the application of subdivision (37) of section 1-201 and sections 2-326 and 9-102 of the Uniform Commercial Code, effective in New York State as of September 27, 1964.

The appellant herein is assignee of creditors of Mincow Bag Co., Inc., consignee of ladies gloves, handbags and other female accessories, sold on a commission basis in many stores throughout the country. In October of 1964, Mincow entered into an agreement with respondent, Finale Inc., a manufacturer of ladies gloves, whereby Finale would deliver shipments of gloves on consignment, to the stores directly.…