Capital Factors, Inc. v. Caldor, Inc.
| Decision Date | 21 April 1992 |
| Citation | 582 N.Y.S.2d 1012,182 A.D.2d 532 |
| Parties | , 18 UCC Rep.Serv.2d 315 CAPITAL FACTORS, INC., Plaintiff-Respondent, v. CALDOR, INC., Defendant-Appellant. |
| Court | New York Supreme Court — Appellate Division |
Before SULLIVAN, J.P., and ELLERIN, WALLACH and RUBIN, JJ.
Judgment, Supreme Court, New York County (Shirley Fingerhood, J.), entered July 18, 1991, pursuant to an order which denied defendant's motion for summary judgment and, sua sponte, granted summary judgment in favor of plaintiff, unanimously affirmed, with costs.
We agree with the IAS court that the notice stamped on the assignor's invoices-- --apprised defendant account debtor that the account had been assigned, that payment was to be made to the plaintiff-assignee, and that the rights assigned were those contained on the invoice itself. Specifically demanding that payment was to be made to a person other than the assignor and reasonably referring to the goods reflected on the invoices, the stamp satisfied the notice requirements of UCC 9-318(3). Since "no particular form of notice is required by the [Uniform Commercial Code] and actual knowledge of a fact is notice thereof" (Gateway National Bank of Chicago v. Saxe, Bacon & Bolan, 40 A.D.2d 653, 336 N.Y.S.2d 668 [citing UCC 1-201[25], defendant should have inferred from the stamp that the account had been assigned.
We also agree with the IAS court that for purposes of deciding whether an issue of fact exists concerning defendant's knowledge of the assignment, it is persuasive that defendant does not dispute that it paid plaintiff on three separate occasions upon receiving identically stamped invoices from two different suppliers
We have considered defendant's remaining arguments and find them to be without merit.
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A.B. Med. Servs. PLLC v. Highlands Ins. Co., 2004 NY Slip Op 50978(U) (NY 3/26/2004)
...the assignment under U.C.C. § 9-406(c), it governs only assignees whom debtors must pay to satisfy a debt. See Capital Factors v. Caldor, Inc., 182 A.D.2d 532 (1st Dep't 1992). Defendant's obligation to pay under an insurance policy issued to plaintiffs' assignor is of course one of the oth......
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Bay Area Factors v. Target Stores, Inc.
...Bay Area and that payment was to be remitted to Bay Area at the address provided. In a similar case, Capital Factors, Inc. v. Caldor, Inc., 182 A.D.2d 532, 582 N.Y.S.2d 1012, 1013 (1992), the court held that invoices stamped "payable" to the factoring company were sufficient to put the acco......
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General Motors Acceptance Corp. v. Albany Water Bd.
...the debtor "on inquiry" (Continental Purch. Co. v. Van Raalte Co., supra, 251 A.D. at 152, 295 N.Y.S. 867; see, Capital Factors v. Caldor Inc., 182 A.D.2d 532, 582 N.Y.S.2d 1012). Here, the proof submitted in support of the respective motions for summary judgment plainly establishes that de......
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