Dayle L. Smith Oil Co. v. Continental Supply Co.

This appeal is from a judgment in favor of the Continental Supply Company against the Oil Company and others for the amount of a note given by the Oil Company to cover the purchase price of certain oil well material, and foreclosing • a mortgage lien upon such material. The Oil Company, which was in effect a joint-stock association, sought to defeat the payment of the note by setting up failure of consideration based upon the contention that a part of the material was defective and fell short of the warranty under which it was purchased. The oil association also filed a cross-action, alleging…