True v. Merchants Mutual Bonding Co.

UHLENHOPP, Justice.

This appeal involves a controversy between a farmer who sold grain and a warehouseman’s bondsman. Other cases involving the same bond are Michael v. Merchants Mut. Bonding Co., 251 N.W.2d 531 (Iowa), and Avoca State Bank v. Merchants Mut. Bonding Co., 251 N.W.2d 533 (Iowa).

In the Avoca State Bank case, we set out the factual background regarding Claude W. Myler, the elevator operator. Myler became insolvent. He was both a grain dealer and a licensed grain warehouseman and used the same elevator facility to conduct both enterprises. Present chapter 542 of the Code, enacted…