Court of Appeals for the Eleventh Circuit September 30, 1986, 86-8073 (Allstate Financial Corporation v. Dundee Mills, Inc.)

HILL, Circuit Judge:

FACTS

Allstate Financial Corporation (“Allstate”) is in the business of making secured loans and financing and factoring receivables. In June, 1983, Allstate entered into a financing arrangement with Bleckley Lumber Company d/b/a Bleckley Cotton Company (“Bleckley”) and Bleckley’s principal, William Carlton Lawson, whereby Allstate agreed to factor certain of Bleckley’s