Graves Equipment, Inc. v. M. DeMatteo Construction Co.

At issue are the respective rights of an account debtor and an assignee in retainages withheld under a construction contract. The defendant M. DeMatteo Construction Co. (DeMatteo) appeals from a judgment in favor of the plaintiff, Graves Equipment, Inc. (Graves), in the amount of $10,692.52, plus interest and costs. That amount represents the retainages held by DeMatteo under a material supplier contract with Dirt Movers, Inc. (Dirt Movers), an assignor of Graves. DeMatteo argues that it is entitled under the terms of that contract to offset the retainages as liquidated damages for Dirt…