GEN. ELEC. CREDIT CORP. v. MARCELLA'S APPLIANCES SALES & SERVS., INC.


66 A.D.2d 927 (1978)

General Electric Credit Corporation, Respondent, v. Marcella's Appliances Sales & Services, Inc., Appellant

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

December 7, 1978


Pursuant to the terms of an inventory financing agreement executed by the parties on November 27, 1969, plaintiff extended financing services to defendant for the operation of its retail appliance business. Among other things, this agreement provided for periodic inspections of defendant's place of business to verify that defendant's monthly remittance accurately reflected its total sales out of inventory subject to the agreement. At the time of a regular inspection on July...

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