Mohawk Oil Corp. v. Simpson

KING, Circuit Judge.

The Monitor Oil Company, a common-law trust, executed two promissory notes, dated December 13, 1919, to R. B. Pruitt, trustee, aggregating $14,000. , By a contract of even date the Monitor Company transferred all of its assets to J. D. Hawk, acting as trustee for a corporation to be and. thereafter formed, known as Mohawk Oil Corporation. One of the considerations for the execution of said conveyance to Hawk, trustee, is recited to be the payment of said two notes. The assets > appear to have been transferred to said corporation when formed.

The notes not having been paid…