Farrell v. Drumm Floral Co.

BROWN, Justice.

An old floral company named Drumm Seed & Floral Company became insolvent and went into the hands of a Receiver, and three individuals named E. S. Eastwood, F. H." Scott and C. J. Kincaid conceived the idea of purchasing the assets of' such insolvent company and organizing a new corporation to go into the floral business. They contacted appellant John E. Farrell and induced him to lend them $8000 with which to purchase such assets and to go into business. The loan was made, a note was executed by the individuals, and they made a written contract with Farrell in which they agreed…