Carolina Baking Co. v. Geilfuss

The opinion of the Court was delivered by

Mr. Justice Bonham.

A. Geilfuss was in business in Spartanburg operating a bakery in his own name, and also as Dixie Cake Company, a corporation of which he was sole owner. He became heavily indebted'to Carolina National Bank and Dollar Savings Bank, both of Spartanburg, S. C., to general trade creditors, and was indebted to Life Insurance Company of Virginia, which last-named indebtedness was secured by mortgage. It appearing probable that Geilfuss must go into bankruptcy, negotiations were opened which culminated in Geilfuss executing to R. B.…