Bundy v. . Commercial Credit Co.

The Triplett Lumber Company was a North Carolina corporation with its office and place of business in Charlotte, and engaged in the wholesale lumber business. In the due course of its business it purchased lumber from various mill owners and had the same shipped directly to its customers. The company paid mill owners for the lumber, and upon shipment charged the customers with the purchase price. Apparently the lumber company was doing a large and profitable business, and hence it was compelled to have a large amount of money available to carry on its extensive operations. On 2 September,…