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UNITED FACTORS v. T.C. ASSOCIATES, INC.

No. 11022.

445 P.2d 766 (1968)

21 Utah 2d 351

UNITED FACTORS, a corporation, Plaintiff and Respondent, v. T.C. ASSOCIATES, INC., a corporation, and Harry R. Ulmer, Jr., Paul J. Sugar and Sam Herscovitz, Defendants and Appellants.

Supreme Court of Utah.

October 3, 1968.

Attorney(s) appearing for the Case

Pete N. Vlahos, Ogden, for appellants.

Alvin I. Smith, Salt Lake City, for respondent.

CALLISTER, Justice:

T.C. Associates, Inc., the corporate defendant, was engaged in the furniture business; two of its officers, Herscovitz and Ulmer, executed, as individuals, a guarantee, agreement with United Factors, plaintiff, in order to procure an extension of credit to the corporation. Subsequently, the defendant corporation purchased merchandise from Bailey-Schmitz and Evans and Black Carpet Mills, who assigned their accounts receivable to plaintiff. The corporate...

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