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CONSUMERS TIME CREDIT, INC. v. REMARK CORP.

February 28, 1964

CONSUMERS TIME CREDIT, INC., a corporation
v.
REMARK CORP., a corporation, et al.



The opinion of the court was delivered by: KRAFT

Consumer Time Credit, Inc. (Consumers) brought this action against six corporations and three individuals, asserting claims based, inter alia, upon an accounts receivable financing agreement between Consumers and Remark Corp. (Remark), one of the corporate defendants.

Plaintiff commenced it suit by writ of fraudulent debtor's attachment, pursuant to the Pennsylvania rules of Civil Procedure, and attached bank accounts and other personal property of defendants Sara L. Bokser, Lewis Bokser and Lewis Bokser, Inc.

The case is before us on petitions to dissolve the attachments, which allege, in part, that the complaint fails to set forth ground for attachment.

 Rule 1286 of the Pennsylvania Rules of Civil Procedure, 12 P.S.Appendix, in relevant part, states:

 'A fraudulent debtor's attachment may be issued to attach personal property of the defendant within the Commonwealth and not exempt from execution, upon any cause of action at law or in equity in which the relief sought includes a judgment or decree for the payment of money, when the defendant with intent to defraud the plaintiff

 '(1) has removed or is about to remove property from the jurisdiction of the court;

 '(2) has concealed or is about to conceal property;

 '(3) has transferred or is about to transfer property; * * *.'

 Count 1 of the complaint states a claim against Remark along, and alleges that by reason of sundry defaults, breaches of warranty, misrepresentations and other breaches of the accounts receivable financing agreement, the entire indebtedness owing by that defendant to plaintiff has matured and is now immediately due and payable.

 Paragraph 5 of this Count avers:

 '5. The defaults, breaches of warranty, misrepresentations and other violations of the terms and provisions of the aforesaid accounts receivable financing agreement, include, inter alia, the unlawful conversion and fraudulent diversion by defendant of merchandise and proceeds of at least 85 of the accounts receivable and/or chattel paper transactions assigned by defendant to plaintiff, constituting a conversion and diversion of approximately $ 45,000.00 worth of the collateral assigned to plaintiff as security.'

 Count 2 states a claim against all defendants, except Remark and Sara L. Bokser, based on an alleged agreement of suretyship in favor of plaintiff for performance by Remark of the accounts receivable financing agreement.

 Count 3 states a claim against Sara L. Bokser alone based substantially on the alleged breach of a subordination ...


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