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ASSOCIATES DISC. CORP. v. OLD FREEPORT BK.

421 Pa. 609 (1966)

Associates Discount Corporation v. Old Freeport Bank, Appellant.

Supreme Court of Pennsylvania.

June 24, 1966.

Attorney(s) appearing for the Case

Alice Dobson, with her Abraham Fishkin, for appellant.

Donnell D. Reed, with him Gerard H. Hamilton, for appellee.

William H. Wood, J. Colvin Wright, and William A. Schnader, Pennsylvania Commissioners on Uniform State Laws, for amicus curiae.

Before MUSMANNO, JONES, COHEN, EAGEN, O'BRIEN and ROBERTS, JJ.

OPINION BY MR. JUSTICE COHEN, June 24, 1966:

Appellant, Old Freeport Bank (Bank), loaned money to Hood Motors, Inc. for the purpose of financing the purchase of new automobiles by Hood (Dealer). In addition to a trust receipt security agreement, these loans were secured by DX or dealer titles which were issued for each automobile financed. On each such title an encumbrance was noted in favor of Bank. One such automobile was...

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