Mercer Tube & Manufacturing Co. v. American Zinc Sales Co.

Glennon, J. (dissenting).

Plaintiff is in the business of manufacturing steel pipe and the defendant in the sale of slab zinc. The business of plaintiff was conducted by Henry Greenberg and Donald V. Sawhill as equity receivers from July 22, 1936, until August 3, 1937. At the termination of the receivership, Greenberg became the president of the plaintiff corporation and Sawhill its treasurer.

Plaintiff instituted this action for the breach by the defendant of two contracts. The first, dated December 21, 1936, provided that the defendant was to sell and to deliver to the plaintiff 500 tons of…