National Bank v. D. W. Standrod & Co.

R. G. Bills, doing business as the Bills Auto Company, contracted to purchase a garage in Shelley from William H. Montgomery and Roy R. Cooper, to be paid for in monthly instalments of $250.00. The interest of Cooper was shortly thereafter transferred to Montgomery. Soon after making this agreement Bills died, but the business was continued by his estate with W. E. Bills acting as manager.

The Bills Auto Company had borrowed large sums of money from D. W. Standrod & Company for which it had given short term notes. As these fell due, they were renewed by W. E. Bills, signing as “Bills Auto…