Morgan's Home Equipment Corp. v. Martucci

Opinion by

Mr. Justice Cohen,

The Central Home Furnishing Co. was engaged in the installment selling of household articles through door-to-door salesmen-collectors. Each salesman was given a confidential route of cutomers to whom he sold and from whom he collected weekly payments. The contacts between salesmen and customers were on a regular and reoccurring basis.

In February, 1955, Morgan’s Home Equipment Corporation purchased the assets of the Central Company. Of the $150,000 purchase price, only $25,000 was paid for merchandise inventory; the remainder was paid for accounts receivable,…