[Download] "Allied Building Credits v. Grogan Builders Supply Co." by Houston Court of Civil Appeals of Texas " Book PDF Kindle ePub Free

eBook details

Title: Allied Building Credits v. Grogan Builders Supply Co.
Author : Houston Court of Civil Appeals of Texas
Release Date : January 14, 1963
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 68 KB

Description

This is a suit for an accounting brought by appellee, Grogan Builders Supply Co., sometimes referred to as "Dealer," against appellant, Allied Building Credits, Inc., sometimes referred to as "ABC." On September 27, 1951, Allied and Grogan entered into a dealer participation plan agreement under which Grogan sold and assigned notes and the security securing the same to Allied on a discount basis under endorsements without recourse. The purchase price paid for such notes is referred to in the contract as net proceeds. A dealer reserve account was established pursuant to provisions of the contract. Grogan sued for an accounting of such reserve account and for the amount allegedly due it therefrom, with interest. The trial court, without a jury, entered judgment in favor of Grogan for $5,293.38, from which judgment Allied appeals.