Jarecki Manufacturing Co. v. Ragir

On May 9, 1930, Samuel Ragir and Abe Friedman, having learned of the possibility of obtaining a lease of certain land in the Muskegon oil fields, leased the property known as the Moch property. On May 15, 1930, defendant Ragir signed a credit statement in the joint names of both defendants and on the same date the following instrument was signed by both defendants:

“We, the undersigned, hereby guarantee payment of any goods purchased from the Jareclci Manufacturing Company to an amount not exceeding $2,500 according to the terms and conditions as above set forth.

“Dated: May 15, 1930.

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