Knott v. Manufacturing Co.

SNYDER, Judge:

The Shepherdstown Manufacturing Company, a corporation, applied to William J. Knott for a loan of money. The nego-tations were carried on for some time before the loan was effected. It was at one time proposed to fix the amount of the loan at $10,000.00, and secure it by a trust-deed upon the property of the company. Pursuant to this proposition such deed was prepared and submitted to Knott, but upon his objecting to some of its conditions, this deed was cancelled, and by agreement of the parties the amount of the loan was fixed at $7,500.00, which sum was paid by Knott to the…