Glover v. Killingsworth

A contract whereby a cotton broker purchased 100 bales of cotton, based on 1.95 points off the October New York middling price of cotton, the seller having the right to close the sale at any time prior to notice from the purchaser that he was going to close the same at the price fixed, to wit 1.95 points off October New York middling, and whereby the seller received 8 cents per pound, basis middling, on this cotton from the purchaser as an advance, and delivered to the purchaser 100 bales of cotton against the above purchase, which graded 1.60 points off middling, was not a contract dealing…