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ALLIED BUILDING CREDITS, INC. v. GROGAN BLDRS. SUP. CO.

No. 14077.

365 S.W.2d 692 (1963)

ALLIED BUILDING CREDITS, INC., Appellant, v. GROGAN BUILDERS SUPPLY CO., Appellee.

Court of Civil Appeals of Texas, Houston.

Rehearing Denied March 14, 1963.

Attorney(s) appearing for the Case

Carl & Lee, Emory T. Carl, Houston, for appellant.

William H. Scott, Jr., Houston, for appellee.

WERLEIN, Justice.

This is a suit for an accounting brought by appellee, Grogan Builders Supply Co., sometimes referred to as "Dealer," against appellant, Allied Building Credits, Inc., sometimes referred to as "ABC." On September 27, 1951, Allied and Grogan entered into a dealer participation plan agreement under which Grogan sold and assigned notes and the security securing the same to Allied on a discount basis under endorsements without recourse. The purchase price...

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