Byron Jackson Co. v. Woods

On August 10, 1928, Byron Jackson Company purchased the business and assets of the U. S. Tool Company, and as part of the sales transaction Hugh E. Stock (since deceased), W. T. Woods, O. C. Dunn, and Herbert W. Erskine, owners of more than two-thirds of the issued stock of the U. S. Tool Company, executed an indemnity agreement whereby they agreed to “indemnify and hold harmless Byron Jackson Pump Co., a Delaware corporation, of and from any and all claims or demands of whatsoever kind or nature that at any time may be made against said Byron Jackson Pump Co. by: (1) said U. S. Tool Company,…