Defendant-respondent-appellant Greenwood Mills, Inc. (Greenwood), a textile manufacturer, sold certain unfinished (greige) fabrics to Mill Fabrics Corporation (Mill), a textile converter, on a "bill and hold" basis, that is, they were stored at Greenwood's premises subject to the order of Mill. The sales contract provided that Greenwood retain a security interest in the goods to the extent of Mill's indebtedness to it. Mill never paid Greenwood for these goods, but sold them...
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