Stone-Ordean-Wells Co. v. Taylor
Supreme Court of Minnesota
Action in the district court for St. Louis county to recover $2,517.76 upon a letter of credit. The answer alleged that on or about June 21, 1907, defendant and E. B. Myers entered into a written agreement with plaintiff wherein they jointly agreed to guarantee the payment of the account of the Aurora Mercantile Company; that thereafter Myers and plaintiff without knowledge or consent of defendant entered into in agreement whereby said F. B. Myers was released from the…
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Action in the district court for St. Louis county to recover $2,517.76 upon a letter of credit. The answer alleged that on or about June 21, 1907, defendant and E. B. Myers entered into a written agreement with plaintiff wherein they jointly agreed to guarantee the payment of the account of the Aurora Mercantile Company; that thereafter Myers and plaintiff without knowledge or consent of defendant entered into in agreement whereby said F. B. Myers was released from the guarantee. The case was tried before Fesler, J., who made findings and as conclusion of law ordered judgment in favor of…
1Opinion of the CourtQuinn, J.
Plaintiff is a corporation engaged in the wholesale mercantile business at Duluth in this state. The Aurora Mercantile Company is also a corporation engaged in the retail mercantile business at Aurora, about 100 miles distant from Duluth. In June, 1907, the Aurora Company was indebted to the plaintiff for merchandise in the sum of $6,097.18. The defendant, C. EL Taylor, and one F. B. Myers, both stockholders .and officers'in the Aurora Company, signed and delivered to plaintiff, who accepted the same, a letter of credit, a copy of- which is as follows:
June 21st, 1907.
Stone-Ordean-Wells Co.,
Dul…
2Cases cited3 opinions
- People v. BusterCalifornia Supreme Court · 1858
- Sage v. StrongWisconsin Supreme Court · 1876
- Young v. ShunkSupreme Court of Minnesota · 1883
3Cited by4 opinions
- Klatte v. Franklin State BankWisconsin Supreme Court · 1933
- National Surety Co. v. BecklundSupreme Court of Minnesota · 1926
- United States Gypsum Company v. SampsonCourt of Appeals of Texas · 1973
- J. R. Watkins Co. v. ClarkIdaho Supreme Court · 1944