Parsons v. Fox

Henry & Co. is a corporation chartered by the superior court of Fulton Count}*-, Georgia. Its charter specifies that the business to be conducted is buying and selling real and personal property including choses in action, etc., wages and salary accounts. The charter states: “The corporation shall not have authority to lend money in any sum or amount whatever.” On June 18, 1930, Fox signed a paper headed, “Application to sell Salary or Wage Account.” It recited that he made application to Henry & Co. to sell an undivided interest in his account for salary earned for six days preceding the…