Walworth Co. v. Locke Stevens & Sanitas, Inc.

On November 5, 1937, the defendant corporation Locke Stevens & Sanitas, Inc., sold in bulk all its stock of merchandise, otherwise than in the ordinary course of trade and the regular and usual prosecution of its business, to the other defendant, Locke, Stevens, Inc. Both corporations intended to comply with the statute respecting sales in bulk, G. L. (Ter. Ed.) c. 106, § 1, but they failed to comply with the requirement that they “make a full, detailed inventory, showing the quantity and, so far as possible with the exercise of reasonable diligence, thé cost price to the seller of each…