Legal Opinion
General Electric Credit Corporation v. T. R. Grubbs, D/B/A T. R. Grubbs Tire & Appliance
Court of Appeals for the Fifth Circuit
Decided May 14, 1973No. 29961PublishedCited by 3 opinions
1Opinion of the Court
THORNBERRY, Circuit Judge:
General Electric Credit Corporation (GECC), plaintiff below, appeals from a judgment denying it recovery on a note and awarding defendant-appellee Grubbs a $20,000 recovery on his counterclaim. We reverse the judgment below.
Grubbs operated an appliance store in Jefferson, Texas, and sold General Electric products. He financed his purchases of inventory by means of two distinct arrangements with GECC, a wholly-owned subsidiary of General Electric Corporation. Pursuant to the first of these arrangements, known as trust re ceipts financing or “floor planning,” he paid…
2Cases cited4 opinions
- Robertson Tank Lines, Inc. v. Van CleaveTexas Supreme Court · 1971
- Brown v. American Freehold Land Mortgage Co.Texas Supreme Court · 1904
- Lewis v. J. P. Word Transfer Co.Court of Appeals of Texas · 1938
- West Coast Mining, Inc. v. Security National Bank of LubbockCourt of Appeals of Texas · 1969
3Cited by3 opinions
- Telex Corp. v. International Business MacHines Corp.District Court, N.D. Oklahoma · 1973
- Commonwealth Mortgage Corp., Plaintiff-Counter v. First Nationwide Bank, Defendant-Counter Plaintiff-Third PartyCourt of Appeals for the First Circuit · 1989
- General Electric Credit Corporation v. T. R. Grubbs D/B/A T. R. Grubbs Tire & ApplianceCourt of Appeals for the Fifth Circuit · 1975