Boothton Coal Mining Co. v. Tennessee Coal, Iron & R.

STAKELY, Justice.

This is an appeal by Boothton Coal Min-' ing Company, a corporation, and others, from a decree overruling their demurrers to a bill of complaint, in equity, filed by Tennessee Coal, Iron and Railroad Company, a corporation (appellee). The question presented by the ruling is whether there is equity in the bill. The allegations of the bill may be summarized as follows.

*707Tennessee Coal, Iron and Railroad Company is a simple contract creditor of Booth-ton Coal Mining Company. They entered into a contract on July 23, 1947 by the terms of which Boothton Coal Mining Company agreed to…