Moon Bros. v. Equipment Finance Corp.

Plaintiff, located in Detroit, was engaged in the business of buying and selling merchandise at retail, particularly electrical appliances, such as washing machines, etc. Much of its business consisted of sales on title-retaining contracts; and for the purpose of financing its business it entered into a contract with defendant whereby these title-retaining contracts .were assigned to defendant, but plaintiff as defendant’s agent made collections on the contracts and remitted proceeds from time to time to defendant at its Chicago office. In December, 1927, plaintiff owed defendant nearly…