Kranke v. American Fabrics Co.

The Kellner Lace Corporation on January 20th, 1926, owned and used machinery in the manufacture and sale of goods at wholesale in New Jersey where, on this date, the plaintiff Kranke obtained a judgment against it for $1610, with costs amounting to $43.12. On February 18th, 1926, the corporation entered into an agreement with the plaintiff with a view to adjusting and compromising their differences relative to this judgment, by which the plaintiff agreed to accept $875 in full settlement of this judgment, and the corporation agreed to pay the $875 and to pay it from the rentals received from…