Belmont Merchandise Corp. (Belmont) engaged in the general merchandising business, involving the purchase and sale of a variety of goods. Financing of these purchases was effectuated through the First National City Bank (FNCB), which, upon presentation of a document of title by Belmont, would advance up to 70% of the purchase price. The defendant Herbert Cooper was named as the president of Belmont, though defendant urges that he only accepted that designation as an accommodation...
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