Summary
In Crest Finance Co. v. United States, 368 U.S. 347, 82 S.Ct. 384, 7 L.Ed.2d 342 (1961), vacating 291 F.2d 7 (7th Cir. 1961), a subcontractor had assigned amounts due under its subcontract as security for loans. No recording was required, under state law, to perfect this assignment.
Summary of this case from Nevada Rocks&sSand Co. v. United States, Dept. of Treasury I.R.S.Opinion
No. 325.
Decided December 18, 1961.
Certiorari granted; judgment vacated; and case remanded.
Reported below: 291 F.2d 1.
Edmund L. Jones for petitioner.
Solicitor General Cox, Assistant Attorney General Oberdorfer, Wayne G. Barnett, Joseph Kovner and George F. Lynch for the United States.
Benjamin M. Nathan and Theodore M. Newman for National Commercial Finance Conference, Inc., as amicus curiae, in support of the petition.
In the light of the Solicitor General's concession that petitioner's lien is choate, and the Court agreeing therewith, certiorari is granted, the judgment is vacated and the case is remanded to the Court of Appeals for further proceedings not inconsistent with this opinion.