Valley Meat Co. v. Stanger

The written agreement out of which this action arose was in the nature of a “spread contract.” The Valley Meat Company, plaintiff and respondent, sold and delivered to Stanger, defendant and appellant, 269 head of cattle for $10,051.75. Eight thousand three hundred ninety-eight dollars and eighty cents thereof was paid, leaving $1,652.95 to be applied on the repurchase of the cattle. Defendant was to fatten the cattle within a specified time, after which plaintiff could buy them back at an increased price. Defendant was to retain the $1,652.95, if plaintiff failed to repurchase the cattle,…