First National Bank of Roswell v. McClain, Adams & Co.

R. E. Levers & Co. of Roswell, N. M., sold to G. E. Parmley, of Nacog-doches, Tex., one carload of alfalfa hay, f. o. b. Nacogdoches, at an agreed price of $392.54. The hay was to be shipped on an order bill of lading with right of inspection by Parmley. On the 17th of August, 1923, immediately after the shipment was made, R. E. Levers & Co. sold the bill of lading to appellant herein for value received, and, in due course of trade,.duly indorsed the same and delivered possession thereof to appellant. At the same time R. E. Levers & Co. transferred and delivered to appellant its sight draft…