Plaintiff, Congress Talcott Corporation (Congress), by its predecessor in interest, James Talcott Factors, Inc., entered into a written factoring agreement on May 17, 1983 with defendant Damino Accessories, Inc. (Damino). Pursuant to the terms of the agreement, Congress purchased Damino's accounts receivable on the sale of merchandise, and began to collect them directly. Damino was charged a commission on each account for Congress' factoring services.
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