Spector v. National Cellulose Corp.

In December, 1936, and January, 1937, plaintiff loaned to defendant National Cellulose Corporation (hereinafter referred to as National) various sums aggregating $47,000. In June, 1941, he brought an action to recover that amount less certain sums said to have been paid on account. Upon a motion and cross motion for summary judgment in that action it was disclosed that plaintiff had executed four agreements in writing with respect to such loans as follows: By writing dated November 1, 1937, he agreed to waive payment until National was financially able to liquidate this series of notes ”. By…