Gates v. . McKee

If this were the first time that an instrument of this character had been before a court, and we were now called upon to construe it without the light of adjudged cases, the first inquiry would naturally be whether the limit of $500 related to the amount of purchases to be made by M.E. McKee or to the defendant's ultimate liability; and I think it clearly qualifies the responsibility of the defendant and not the amount of M.E. McKee's future transaction with the plaintiff. It is as if he had said "I will be responsible to the amount of $500 for what stock M.E. McKee has had or may want…