G.A.C. Credit Corp. v. Acme Accordion Studios, Inc.

Opinion by

Spaulding, J.,

This is an appeal from an order of the Court of Common Pleas of Philadelphia County opening a judgment of $15,213.36 confessed against the corporate ap-pellee Acme Accordion Studios, Inc., in January 1970.1

The appellant corporation, which is engaged in the business of lending money, financed appellee’s purchases of musical instruments, television sets, and related electrical equipment from Sylvania Electric Products, Inc. Appellee executed documents evidencing the debt, providing security in the form of trust receipts, and authorizing confession of judgment in the…