Credit Industrial Company v. Happel, Inc.

Plaintiff, Credit Industrial Company, brought this law action in the district court of Johnson County against defendant, Happel, Inc., to recover on three trade acceptances. The petition alleges defendant issued them in payment of materials it purchased from Carbozite Protective Coatings, Inc., that Carbozite endorsed the instruments to Ohmlac Paint & Refining Company, plaintiff purchased them from Ohmlac before maturity without notice and is a bona fide holder in due course and for value, the instruments were presented for payment according to their terms and returned unpaid.

After defendant…