Food Products Co. v. Pierce

In 1924, L. Seligman and S. Seligman conducted a wholesale meat and provision business in the city of Norfolk, under the trade name, York Commission Company. W. C. Pierce was a wholesale dealer in meats in that city. There was also located Food Products Company, Incorporated, a Virginia corporation, which sold mayonnaise. Pierce had had no dealings whatever with this corporation but did a considerable business with the Seligmans and had become distrustful of their solvency. In substance, he said to them that he could extend no further credits unless he was in some wise secured.

Thereupon this…