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GENERAL ELECTRIC CREDIT CORPORATION v. GRUBBS

No. 29961.

478 F.2d 53 (1973)

GENERAL ELECTRIC CREDIT CORPORATION, Plaintiff-Appellant, v. T. R. GRUBBS, d/b/a T. R. Grubbs Tire & Appliance, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied May 14, 1973.

Attorney(s) appearing for the Case

Hubert D. Johnson, Dallas, Tex., for plaintiff-appellant.

J. R. Cornelius, Bill J. Cornelius, Jefferson, Tex., for defendant-appellee.

B. A. Britt, Jr., Texarkana, Tex., for Goodyear Tire & Rubber Co.

Roby Hadden, U. S. Atty., Tyler, Tex., for United States.

Before GEWIN, THORNBERRY and CLARK, Circuit Judges.

THORNBERRY, Circuit Judge:

General Electric Credit Corporation (GECC), plaintiff below, appeals from a judgment denying it recovery on a note and awarding defendant-appellee Grubbs a $20,000 recovery on his counterclaim. We reverse the judgment below.

Grubbs operated an appliance store in Jefferson, Texas, and sold General Electric products. He financed his purchases of inventory by means of two distinct arrangements with GECC, a whollyowned subsidiary of...

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