MAUGHMER, Commissioner.
Plaintiff, Missouri Department Stores, Inc., operates a retail merchandise business and sells on credit. Defendant, Personal Finance Company, as a part of its operation, buys promissory notes, chattel mortgages and accounts, described in the trade as "paper" from retail credit dealers such as plaintiff.
The parties agree that during the year 1951, defendant purchased in bulk from plaintiff, notes or "paper" in the total amount of $416...
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