MAJOR'S FURN. MART v. CASTLE CREDIT CORP.

No. 78-1912.

602 F.2d 538 (1979)

MAJOR'S FURNITURE MART, INC. v. CASTLE CREDIT CORPORATION, INC., Canter Consumer Discount Company, and Robert's Furniture Company, Inc., Appeal of CASTLE CREDIT CORPORATION, INC.

United States Court of Appeals, Third Circuit.

Decided June 20, 1979.


Attorney(s) appearing for the Case

Arthur Silverman, Michael M. Westerman, Ettinger, Silverman, Balka, Basch & Levy, Philadelphia, Pa., for appellant.

Robert W. Maris, Dilworth, Paxson, Kalish, Levy & Kauffman, Philadelphia, Pa., for appellee.

Before HUNTER, WEIS and GARTH, Circuit Judges.


Submitted Under Third Circuit Rule 12(6) January 11, 1979.

OPINION OF THE COURT

GARTH, Circuit Judge:

This appeal requires us to answer the question: "When is a sale—not a sale, but rather a secured loan?" The district court held that despite the form of their Agreement, which purported to be, and hence was characterized as, a sale of accounts receivable, the parties' transactions did not constitute sales. Major's Furniture Mart, Inc. v...

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