Shaeffer v. Smyth

The Ward-Harrison Mortgage Company being desirous of selling mortgage notes to the Pan American Dife Insurance Company, said parties, on February 2, 1920, entered into a contract in which the mortgage company is designated as first party and the insurance company as second party.

The portions of the contract material here are as follows:

“Now, therefore, in consideration of the premises and the sum of one dollar in hand paid, the receipt of which is hereby fully acknowledged said first party has agreed to and does hereby make to second party as a basis of said purchases and sales the following…