Walter E. Heller & Company Southeast, Inc. v. Reeves Transportation Co.

Shulman, Chief Judge.

In July of 1980, appellant entered into a financing agreement with Kenworth of Greenville (hereinafter “Kenworth”) pursuant to which Kenworth assigned to appellant all its accounts receivable. On the same day, appellee, an account debtor of Kenworth, executed a letter agreement by which it acknowledged the assignment, agreed not to assert against appellant any defenses or claims of offset arising out of any transactions then or thereafter with Kenworth, and agreed that the amount of its current debt was as shown in the letter and that it would not assert any defense,…