Timmons v. Butler, Stevens & Co.

The Farmers Supply Company, a corporation, gave its note to Butler, Stevens & Company, dated February 22, 1909, due November 15, 1909, for $2,629.37, with seven sureties. In addition to the promise to pay the 'principal debt with interest and attorney’s fees, the note contained this stipulation: “We further agree that all the shipments made to Butler, Stevens & Company, and the proceeds thereof, and all property and money that may come into their hands may be retained and applied, 'at their option, to this note or any other debt due them until the same have all been fully paid.” The principal…