Newburger-Morris Company, Respondent v. James Talcott, Appellant

Summary

The New York Court of Appeals held that the factor could not collect compound interest, that the monthly statements were not accounts stated, that the 9% commission applied only to the first $100,000 of sales in the first year, that a 5% commission applied to sales above $100,000 for the life of the contract, and that the consignor must reimburse the factor for attorney and detective fees incurred to protect his lien.