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TALCOTT, INC. v. US TEL CO.

52 A.D.2d 197 (1976)

James Talcott, Inc., Respondent, v. United States Telephone Company et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

May 18, 1976

Attorney(s) appearing for the Case

Clayton P. Knowles, Jr. (Marvin Kramer with him on the brief), for appellants.

Robert J. Clerkin of counsel (Hahn, Hessen, Margolis & Ryan, attorneys), for respondent.

MARKEWICH, MURPHY, CAPOZZOLI and LANE, JJ., concur.

STEVENS, P. J.

On or about July 3, 1969, defendant United States Telephone Company (United), an importer and marketer of decorator telephones, entered into a factoring agreement with plaintiff James Talcott, Inc. (Talcott) in order to finance its business operations. By the terms of the agreement, United would assign, without recourse, its accounts receivable to Talcott, for which Talcott would advance up to...

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