Navco Hardwood Co. v. Mobile & Gulf Nav. Co.

The contract of February 26, 1921, deals with the construction of the boat and barges therein designated, provides that the Naveo Company shall advance $30,000 towards the payment of labor and material, that, in addition thereto, Chalifoux was to advance $15,000, if needed — that is, if the amount so advanced by the Naveo Company was insufficient to complete the construction — and for such other sum by the Naveo Company as may be necessary to complete the boat and barges, should the amounts previously advanced by said company and Chalifoux be insufficient to do so. The contract also…