General Electric Credit Corp. v. Marcella's Appliances Sales & Services, Inc.

Cross appeals from an order of the Supreme Court at Special Term, entered May 2, 1977 in Albany County, which granted plaintiff an order of seizure.* Pursuant to the terms of an inventory financing agreement executed by the parties on November 27, 1969, plaintiff extended financing services to defendant for the operation of its retail appliance business. Among other things, this agreement provided for periodic inspections of defendant’s place of business to verify that defendant’s monthly remittance accurately reflected its total sales out of inventory subject to the agreement. At the time of…