Jefferson Lumber Co. v. Powers

This appeal is from a decree of the circuit court, sitting in equity, discharging the appellees from liability as indorsers on seventeen promissory notes executed by the Tishomingo Band & Bumber Company, a corporation, to the appellants, a partnership doing business as the Jefferson Bumber Company, and indorsed by the appellees Powers, Young, and Randall, representing an indebtedness of more than $50,000 for money advanced by appellants to the Tishomingo Company under a tripartite agreement between the parties, a copy of which is made Exhibit A to the bill.

The litigation was initiated by a…