Johnson v. Shambeck

On June 1, 1923, H. O. Waters and Louis Shambeck entered into a contract whereby Shambeck sold to Waters 300 bales of cotton at an agreed price to be delivered f. o. b. at Wilson, Tex., during the months of October and November. On September 12th, Waters assigned the contract to W. H. Johnson. Thereafter, on about February 1, 1924, Waters and Shambeck entered into an agreement in writing wherein Shambeck acknowledged that he was due to Waters under the contract the sum of $1,727, and Waters agreed to accept said amount to be paid $727 cash, which was then paid, and $500 to be paid February 1,…