Early-Foster Co. v. Mid-Tex Oil Mills

Findings of Pact,

JENKINS, J.

1. On December 14, 1915, the appellant and appellee, each of which is a private corporation, entered into the following contract:

“Waco, Texas, 12/14/15.

“Mr. N. K. Smith, President Belton Oil Mills, Belton, Texas — Dear Sir: It is agreed between Early-Poster Company and Mr. N. IC. Smith, president of Belton Oil Mills, Bartlett Oil Mills and Granger Oil Mills, that Early-Poster Company shall advance Belton Oil Mills, for 60 to '90 days at 8 per cent, interest, 5 cents per pound on 100 to 500 bales cotton linters, same to be shipped via Katy, flat, to Early-Poster…