Peavy-Welsh Lumber Co. v. Hendrix

DOBIE, Circuit Judge.

Peavy-Welsh Lumber Company (hereinafter called Peavy), as seller, entered into a contract for the sale of timber with Hendrix, as buyer. Under this contract, Hendrix was to start cutting the timber on or before December 1, 1936, and Plendrix was to pay a specified price per thousand feet, log scale, by the fifteenth of the month next after the month in which the timber was cut. Pursuant to the terms of the contract, Hendrix made an advance payment to Peavy of $10,000, which was to be applied on the last timber cut by Hendrix. There was no provision in the contract as to…