In the Matter of Tucker Corporation, Debtor. Boyd Veenkant and Clyde O. Bates v. Nathan Yorke, Trustee of Tucker Corporation, Debtor

DUFFY, Chief Judge.

Tucker Corporation was organized in July, 1946, under the laws of the State of Delaware for the purpose of manufacturing motor vehicles. On January 27, 1947, appellant Bates entered into a written agreement whereby Tucker “* * * agrees to sell and Dealer (Bates) hereby agrees to purchase a Tucker Dealer Franchise which will entitle Dealer to sell at retail Tucker motor vehicles manufactured by the Company in the following described territory: * * Bates agreed to pay $4,000 for the franchise. He paid $2,000 down and executed a promissory note payable to Tucker for the…