J. H. Eastman Co. v. Beasley

This action was brought by plaintiff in April, 1937, as assignee of Beasley-Eastman Laboratories, Inc., a Delaware corporation, to recover money loaned to defendant and money paid out for his benefit. The assignee, a Michigan corporation, was formed for the purpose of taking over the assets of the Delaware corporation, which were assigned to it December 31, 1936. From November, 1929, to April 25, 1932, the defendant, president of the assignor corporation, borrowed money from it and also directed it to pay some of his debts; and plaintiff alleges defendant agreed to repay the corporation on…