Petroleum Marketing Corp. v. Metropolitan Petroleum Corp.

Opinion by

Mr. Justice Bok,

This case, proceeding in equity, concerns the collection of accounts receivable as part of the sale of a fuel oil business. The court below, confirming en banc the chancellor, found for the defendants and plaintiffs have appealed.

The sale of plaintiffs’ business was made to defendant Metropolitan Petroleum Corporation for $1,250,-000. Metropolitan, in accordance with the agreement of sale, assigned its rights to Gillin and Petroleum Heat and Power Company.

By the agreement of sale plaintiffs were “to sell, transfer, convey, and deliver to the buyer, free and clear of…